Analyst: BTC short-term holders at a loss, $90K reclaim is key

An analysis suggests that short-term Bitcoin holders have entered a loss-making zone, with a breakthrough above $90,000 being critical for a market recovery. Cryptocurrency analyst Axel Adler Jr. explained that with BTC trading at $87,400, the price is below the average cost basis for short-term holders. He noted that the nearest resistance level is $90,300, meaning most short-term holders are currently at a loss. Adler added that even if the price rebounds, selling pressure could intensify around the break-even point. According to the analyst, an initial sign of a trend reversal would be the price consolidating above $90,000, which is necessary before a full-fledged bullish trend can be expected. He concluded that if buying pressure does not sufficiently increase, the downward pressure is likely to continue.