TechFlow reported on October 9 that CryptoQuant analyst Burak Kesmeci pointed out the average cost of short-term Bitcoin holders is playing a crucial role. Currently, the average cost for holders with 1-3 months of holding period stands at $61,633, while for those holding 3-6 months it is $64,459. These two levels are converging daily, and the breakout direction will be decisive.
Kesmeci believes that if the price breaks above $64,500, it would provide strength to the bulls; conversely, if it falls below the 1-3 month holder average cost of $61,600, the patience of Bitcoin investors will face a severe test.
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