Darkfost: Bitcoin short-term holders' cost basis is around $76,000, and their confidence in holding positions is being tested.

Crypto analyst Darkfost stated that the average cost basis for short-term Bitcoin holders is close to $76,000, and the current price is testing their confidence in holding their positions. The short-term holder MVRV is approaching a neutral level of 1, an indicator that rose above 1.18 in late September, reaching its highest level since July 2025. The cost basis for short-term holders has been steadily rising since mid-August, around $67,500, and this group participated in Bitcoin's rise during that period. With Bitcoin's medium-term momentum turning positive, the return of MVRV to the price range corresponding to a neutral level could prompt short-term holders to either continue buying or capitulate and sell.