PANews, August 8: CryptoQuant analyst Axel Adler Jr. posted that Bitcoin is currently trading below the cost basis of short-term holders (STH)—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 STH price stands at $67,523. The spot price is 3.8% lower than the STH price, a difference of $2,571—the smallest gap since July 21. Over the past 284 days, Bitcoin has closed below the STH price on 279 occasions. This instance is likely no different, as STH holders may begin selling Bitcoin to break even.
Bitcoin price falls below short-term holders' cost basis, raising liquidation risk
PANewsShare
Summary
Today’s Bitcoin price is $64,952, below the average cost of short-term holders (STH), who purchased at $67,523. The $2,571 gap is the smallest since July 21. Over the past 284 days, Bitcoin price prediction models have recorded the spot price closing below the STH cost 279 times, indicating potential for further STH liquidations.
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