The average buy price of Bitcoin holders of 1-3 months has always been an important support and resistance level.

The yellow circles on the chart show areas where Bitcoin price either broke through or was supported by the average buy price of these short-term holders, leading to a significant price increase.

Conversely, when the strike price of short-term holders acts as resistance and Bitcoin fails to break through, the price tends to decline. A recent example is when Bitcoin hit $73K but failed to break through the average buy price of 1-3 month short-term holders, leading to a downtrend.

With the announcement of the US Federal Reserve's 50bp interest rate cut, Bitcoin is once again trying to break through the average buy price of 1-3 month holders.

The average buy price of 1-3 month short-term holders is an important indicator to watch, as it can determine the future direction of Bitcoin price.