Analysts say Bitcoin price is close to short-term holder cost line

On January 17th, Crypto Quant analyst Axel stated that the price of Bitcoin (currently $95500) has approached the average purchase cost for short-term holders ($99460), and the price difference between the two has narrowed to about 4%. Axel pointed out that the area near the cost benchmark is usually accompanied by increased market volatility, which may continue the trend or trigger a reversal. If the price exceeds $100000 and short-term holders turn profitable, the market may turn bullish; If the price falls below approximately $89500 and the discount rate is below -10%, it will intensify the pressure on loss making holders.