Bitcoin is attempting to break above the short-term holder (STH) cost basis, but it has not yet managed to close above that price level. On-chain analyst Darkpost stated via X, "Posts are circulating that BTC has broken above the STH cost basis. However, contrary to what some BTC charts show, it has not yet formed a closing price above that level. After approximately 800,000 BTC moved within Coinbase, they were reclassified as new short-term holder UTXOs (unspent BTC), causing a distortion in the cost basis, artificially lowering the STH cost basis in the process. After correction, the actual STH cost basis is around $81,000. Since the 6th, BTC has faced resistance in this range for the third time and is attempting to break through again. If it closes the daily candle above this range, it could be a significant step forward, and if it settles above the weekly close, it can be seen as a positive signal," he diagnosed.
