BlockBeats news: On January 17, Crypto Quant analyst Axel posted that the price of Bitcoin (currently $95,500) has approached the average purchase cost of short-term holders (99,460 USD), with the price difference between the two narrowing to just 4% at present.
Axel explained that the current situation falls within a decision-making phase, rather than a market retreat. Historically, areas near cost benchmarks often accompany increased volatility and become zones of market reaction, which could either sustain the trend or trigger a reversal—meaning the market could either return to a premium state or face a new wave of selling pressure.
If the price stabilizes above $100,000 and short-term holders move back into profit, the sentiment will turn bullish again. If the discount rate returns to double digits (below -10%), corresponding to a price drop below approximately $89,500, it will significantly increase the pressure on losing positions.