📢📢News from the blockchain industry is here! According to LookIntoBitcoin, the total cost basis of short-term Bitcoin holders (holding time no more than 155 days) is $65,000💰. This means that they may now face losses or exit the market at a loss or breakeven, which may increase selling pressure around $65,000😱.

"Bitcoin prices are trading below the total cost basis of short-term holders for the first time since August 2023," said analysts at Blockware Intelligence in their latest newsletter. "In the short term, we expect some resistance around $65,000 as short-term market speculators may look to exit their positions at the 'breakeven' level." 📉

The analyst added: "Last summer, when Bitcoin lost the realized price support level for short-term holders, the price moved sideways for another two months before finally breaking out again." 📊

However, long-term holders are optimistic and have a strong incentive to maintain or increase their reserves because their average cost is less than $20,000, nearly 70% lower than the current market price of Bitcoin. This is where our optimism about Bitcoin comes from! 💪💪 (CoinDesk)