ChainThink reports that on October 13, analyst Axel Adler Jr. stated that on-chain data shows Bitcoin long-term holders (LTHs) have an average cost basis of $48,600, with the current price approximately 72% above that cost.
This group has remained profitable since January 2023, with the most recent proximity to the cost line occurring in March 2023.
After reaching a high of $49,500 on July 30, the LTH cost basis has declined by 1.7%. Of the past 74 days since August 1, 60 days have recorded negative weekly changes;
The largest weekly decline was 0.34% on August 25, with the current reading at -0.06%. Axel Adler Jr. noted that the current decline remains relatively mild;
If it continues to decline, it may indicate accelerating selling pressure; if it returns to positive territory, it suggests long-term holders are re-accumulating.

