Analysts say that short-term holders of Bitcoin have increased their holdings to 4.08 million coins

Cryptocurrency analyst Axel Adler Jr stated that short-term holders currently hold approximately 4.08 million Bitcoins, the highest since mid-June. This is an increase of about 422,000 since the low on July 29, representing a growth of about 12%. In the first two weeks of October, there was an increase of about 154,000, and in the past week, an increase of about 48,000. He noted that new buyers mostly entered the market in the range of approximately $82,000 to $86,000.

As of now, the average cost for short-term holders is about $74,900, with unrealized profit buffer narrowing from about 16% to around 10%. Axel Adler Jr mentioned that $74,900 is the breakeven point for this group, and prices have consistently remained above this cost since August 20. If it falls below this cost, the group will collectively enter into unrealized losses, or increase selling pressure.