Analyst: Bitcoin price is approaching the cost line for short-term holders, and the trend is expected to become clearer after increased volatility

Crypto Quant analyst Axel posted that the Bitcoin price (currently $95,500) is approaching the average purchase cost of short-term holders ($99,460), with the price difference narrowing to just 4%. Axel explained that the current situation falls within a decision-making range, rather than a market retreat.

Historically, areas near cost benchmarks are often accompanied by increased volatility and become market reaction zones, which may either continue the trend or trigger a reversal, meaning either a return to a premium state or facing a new wave of selling pressure. If the price stabilizes above $100,000 and short-term holders turn from losses to profits, it will shift back to a bullish outlook. If the discount rate returns to double digits (below -10%), corresponding to a price drop below approximately $89,500, it will significantly intensify the pressure on loss-holding positions.