[Analyst: Bitcoin Falls Below Short-Term Holder Cost, Increasing Risk of Sell-Offs] CryptoQuant analyst Axel Adler Jr. stated in a post that Bitcoin's current trading price is below the cost basis of short-term holders (STH), which refers to the average purchase price of Bitcoin held for less than 155 days. As of August 8, Bitcoin's trading price is $64,952, while the actual price for STH is $67,523. The spot price is 3.8% lower than the STH actual price, with a gap of $2,571. This is the smallest gap since July 21. Over the past 284 days, Bitcoin's closing price has been below the STH actual price 279 times. This situation may be no exception, as STH holders are likely to start selling Bitcoin to close positions at the breakeven point.