Analysis: Bitcoin short-term holder holdings rise to 4.08 million BTC, up 422,000 BTC from July low

BlockBeats news, October 16 — Crypto analyst Axel Adler Jr posted that short-term holders currently hold approximately 4.08 million BTC, the highest since mid-June. Since the low on July 29, they have added about 422,000 BTC, an increase of roughly 12%, of which about 154,000 BTC was added in the first two weeks of October and about 48,000 BTC in the past week. He said new buyers mostly entered in the roughly $82,000 to $86,000 range.

As of now, the average cost for short-term holders is about $74,900, and the unrealized profit buffer has narrowed from about 16% to about 10%. Axel Adler Jr said $74,900 is the break-even level for this group, and the price has remained above their cost since August 20. If it falls below that cost, the group would collectively turn to unrealized losses, potentially increasing selling pressure.