CryptoQuant: The average cost for short-term Bitcoin holders is approaching

CryptoQuant analyst Burak Kesmeci pointed out that the average cost of short-term Bitcoin holders is playing a key role.

Currently, the average cost for 1-3 month holders is $61,633, and for 3-6 month holders it's $64,459.

These two levels are converging daily, and the direction of breakthrough will be decisive. Kesmeci believes that if the price breaks through $64,500, it will bring strength to the bulls; on the contrary, if it falls below the average cost of $61,600 held by 1-3 month holders, Bitcoin investors' patience will be severely tested.