CryptoQuant analyst: Bitcoin price has remained below the short-term holders' cost basis for nine consecutive months

CryptoQuant analyst Darkfost stated that the Bitcoin price has been below the short-term holder cost basis for more than 9 consecutive months, with that level currently around $70,700 and forming a resistance point. In May, BTC climbed to around $82,000 to test this region before pulling back. Darkfost added that some investors are accumulating at lower levels and new capital is lowering the overall position cost.