Analysis Company Says “Bitcoin’s Decline Isn’t Over,” Predicts the Lowest Level That Could Be Seen!

Bitcoin (BTC) has climbed above $72,000 in the last few hours, and on-chain analytics firm CryptoQuant has analyzed the current state of BTC.

CryptoQuant stated that Bitcoin has been trading around $70,000 in recent days, and that the cost price for short-term investors (STH) is currently above the spot price.

At this point, approximately 8% of the 5.7 million BTC held by STHs are profitable, while 92% are at a loss.

Analysts argued that a further recovery in Bitcoin price could signal potential selling pressure from STH (Source Threat) sources.

The analytics firm also noted that Strategy, the largest institutional Bitcoin bull, was also at a loss, arguing that the losses were not limited to STHs.

Strategy stated that it holds 762,000 BTC and that its average cost is around $75,600, consistent with recent resistance levels.

Analysts noted that the average cost price for Bitcoin is approximately $54,000, adding that historically, this price indicates a bottom.

*This is not investment advice.

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