Viewpoint: BTC challenges short-term holder costs of $75400 for the second time in this round, with a high possibility of another pullback

According to BlockBeats, on April 16th, on chain analyst Murphy stated that the short-term holding cost (1-3m-RP) of holding for 1-3 months is approximately $75400, which is near the current price. In this downward trend, BTC has rebounded for the second time and is approaching this resistance level. The last time the rebound approached this level was between January 13th and January 19th, when a slight breakthrough triggered selling pressure and continued to rebound. Based on past data, analysts believe that there is a high possibility of another pullback. In the past three cycles, there has never been a situation where a successful reversal was achieved with only the second challenge to the resistance level. In addition, there is a potential path for BTC to encounter greater resistance levels above after breaking through, namely the Short Term Holder Average Cost Line (STH-RP). At present, there are 2.31 million BTC at around $81000. If BTC encounters resistance here after rising, the market will need time to digest the selling pressure and begin to carefully choose its direction.