[Analyst: BTC Short-Term Holders Have Been at a Loss for Nine Consecutive Months, $68,800 Cost Basis Becomes Key Resistance] CryptoQuant analyst Darkfost stated that BTC short-term holders (holding for no more than 155 days) have been realizing losses for approximately nine consecutive months, which is a typical characteristic of a bear market. The cost basis for short-term holders is around $68,800 and remains under pressure. As Bitcoin attempts to hold above $65,000, this group is estimated to be realizing a loss of about 4%. The analyst pointed out that $68,800 is a critical level Bitcoin needs to reclaim, as doing so could bring short-term optimism and confidence to the market—something the market urgently needs.