![\"Bitcoin](\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9wYXlsb2FkLmx1bS10cmkub3JnL2FwaS9hcnRpY2xlLWNvdmVycy9maWxlL0hJJTIwQml0Y29pbiUyMG5ldHdvcmslMjBmdW5kYW1lbnRhbHMlMjBwcmVkaWN0ZWQlMjB0aGUlMjByaXNlJTIwdG8lMjAlMjQxMkslMkMlMjB3aGVyZSUyMHRvJTIwbmV4dCUyMGFmdGVyJTIwdGhhdCUyMGFjY29yZGluZyUyMHRvJTIwdGhlJTIwZGF0YS0xLmpwZz9wcmVmaXg9bWVkaWElMkZhcnRpY2xlLWNvdmVycw==.jpg\")
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Crypto markets turned euphoric as BTC traded above $80,000, but a rally through short-term holders\u2019 cost basis is needed to cement the bull trend.<\/p>\n
Bitcoin (BTC) reached a new three-month high of $80,500 on Monday, testing the level for the first time since Jan. 31. The rally above $80,000 puts the price just below short-term holders’ cost basis of $81,486, the next dynamic resistance level. For the rally to continue, a daily close above this level is key to securing $80,000 as support.\u00a0<\/p>\n
Bitcoin\u2019s rally to $80,000 places the price directly under the short-term holder’s realized price of $81,486. This metric reflects the average cost of coins moved over the last 155 days and indicates where recent buyers have flipped from loss to profit.<\/p>\n
A daily close above $81,500 would return these holders to profit and reduce sell-side pressure. According to crypto analyst Crazyyblockk, the short-term holder losses have<\/span><\/a> narrowed to about -2.17%, showing that the overhead supply band is thinning. The long-term holders (LTHs) hold near +27% profit and are not distributing aggressively.<\/p>\n Read more<\/p>\n<\/p>\n If you liked the article, do not forget to share it with your friends. Follow us on\u00a0Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n If you want to read more News<\/a> articles, you can visit our General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n\n