CryptoQuant: The average cost of short-term Bitcoin holders approaches

ChainCatcher news, CryptoQuant analyst Burak Kesmeci pointed out that the average cost of short-term Bitcoin holders is playing a key role. Currently, the average cost for 1-3 month holders is $61,633, and for 3-6 month holders, it is $64,459. These two levels are approaching each other daily, and the direction of the breakout will be decisive.

Kesmeci believes that if the price breaks above $64,500, it will empower the bulls; conversely, if it falls below the average cost of 1-3 month holders at $61,600, the patience of Bitcoin investors will be severely tested.