Analysts: Bitcoin price is nearing the cost line for short-term holders; the trend is expected to become clearer after increased volatility.

Crypto Quant analyst Axel noted that Bitcoin's 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 is within a decision-making range, rather than a market collapse. Historically, the area near cost benchmarks has often been accompanied by increased volatility and becomes a market reaction zone, potentially continuing the trend or triggering a reversal—either returning to a premium or facing a new round of selling pressure. If the price stabilizes above $100,000 and short-term holders turn from losses to profits, the outlook shifts back to bullish. However, if the discount rate returns to double digits (below -10%), corresponding to a price drop below approximately $89,500, it will significantly exacerbate the pressure on losing positions.