According to TechFlow, on October 9, CryptoQuant analyst Burak Kesmeci pointed out that the average cost of short-term Bitcoin holders is playing a key role. Currently, the average cost of 1-3 month holders is $61,633, and the average cost of 3-6 month holders is $64,459. These two levels are approaching every day, and the breakthrough direction will be decisive.

Kesmeci believes that if the price breaks through $64,500, it will bring strength to the bulls; on the contrary, if it falls below the average cost of 1-3 month holders of $61,600, the patience of Bitcoin investors will be severely tested.