Analyst: BTC is still above the cost basis for short-term holders, and long-term holders have an unrealized gain of 72%

Cryptocurrency analyst Axel Adler stated that the current trading price of Bitcoin is approximately $83,700, which is 14% higher than the cost basis of short-term holders (STH). Data shows that over the past week, the cost basis of short-term holders increased by 1.2%, rising from $72,800 on September 24 to $73,700. Despite the continuous rise in cost basis, short-term holders still maintain an unrealized profit of about 13.7%, down from 15.4% a week ago.

Meanwhile, the cost basis of long-term holders (LTH) of Bitcoin decreased from $48,900 to $48,800 over the past week, a decline of about 0.3%, marking one of the faster weekly declines this year. The current Bitcoin price is approximately 72% higher than the cost basis of long-term holders, who still have significant unrealized profit potential. Axel Adler noted that changes in the cost basis of long-term holders are mainly influenced by the duration of holding, and some high-cost chips may have shifted into the short-term holder group, thereby increasing the cost basis of short-term holders. If the weekly change in the cost basis of long-term holders returns to zero, it may indicate that this metric is stabilizing.