Bitcoin Price Surpasses Key Short-Term Cost Basis, Majority of Short-Term Holders Remain Profitable

According to monitoring by Glassnode, despite a recent pullback, Bitcoin’s price remains above most major short-term cost basis levels. As of June 11, the one-week cost basis stands at $106,200, the one-month cost basis at $105,200, the three-month cost basis at $98,300, and the six-month cost basis at $97,000. Since the majority of short-term holders are still in profit, the risk of a market top appears to be limited.