Bitcoin short-term holders continue to add to positions, with average cost rising to $74,100.

BlockBeats news, October 5 — CryptoQuant analyst Axel Adler Jr. stated that as of October 4, Bitcoin short-term holder positions increased by 87,000 BTC over the past 30 days to 3.94 million BTC, remaining above the previous month's level for 7 consecutive weeks. This metric has been continuously positive since August 18, indicating that the Bitcoin supply that has moved within the past 6 months is increasing.

Currently, the average cost basis for Bitcoin short-term holders is approximately $74,100, with an overall unrealized profit of about 15%, essentially flat compared to a week ago, but below the stage high of 19% on September 22. Meanwhile, their average cost basis has risen by about $1,000 compared to a week ago, indicating that as Bitcoin's price rises, short-term holders' entry costs are also being pushed higher.

$74,100 is a key level worth watching at present. If Bitcoin falls below this level, short-term holders as a whole will turn to unrealized losses; if the 30-day position change also turns negative at the same time, it would mean this group's position size is also beginning to shrink, potentially further weakening the market structure.