#Bitcoin price is above the cost basis for short-term holders.#

Bitcoin is currently trading about 7% above the short-term holder cost basis, indicating that new investor sentiment remains optimistic. Glassnode's analysis points out that the short-term holder cost basis model is a key indicator of new investor sentiment, historically tracking market lows during bull cycles and differentiating between bull and bear markets. If Bitcoin's price stabilizes below the short-term holder cost basis, it could signal that new investor sentiment is weakening, which is often a turning point in market trends. Therefore, the current price of Bitcoin above the short-term holder cost basis suggests that new investors still have confidence in the market, but if the price continues to trade below this level, it could indicate a shift in market sentiment, and investors need to closely monitor market dynamics.