Bitcoin short-term holders now hold about 4.08 million BTC, the highest level since mid-June, according to crypto analyst Axel Adler Jr. He said the cohort has added roughly 422,000 BTC since the July 29 low, a gain of about 12%. Of that total, around 154,000 BTC was added in the first two weeks of October, with about 48,000 BTC added over the past week alone.
Adler said many new buyers entered in the $82,000 to $86,000 range. The current average cost basis for short-term holders is about $74,900, while their unrealized profit buffer has narrowed from roughly 16% to around 10%.
He added that $74,900 is the cohort’s breakeven level, and Bitcoin’s price has remained above that cost basis since Aug. 20. If the market falls below that level, the group would move into aggregate unrealized losses, which could increase selling pressure.
Bitcoin short-term holders currently control about 4.08 million BTC, the highest level since mid-June, crypto analyst Axel Adler Jr said on Oct. 16.
Since the July 29 low, that group has added roughly 422,000 BTC, or about 12%. Around 154,000 BTC was added in the first two weeks of October, and about 48,000 BTC was added over the past week, according to Adler.
He said many new buyers entered at about $82,000 to $86,000. The average cost basis for short-term holders now stands at about $74,900, while their unrealized profit buffer has narrowed from roughly 16% to around 10%.
Adler also said $74,900 marks the cohort’s breakeven line, with Bitcoin trading above that cost basis continuously since Aug. 20. If the price falls below that level, short-term holders as a group would move into unrealized losses, which could add to selling pressure.
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