Woofun AI data shows that Bitcoin price action is constrained by the $70,700 level, which corresponds to the average cost basis for short-term holders. On-chain analyst Darkfost identified this threshold as a critical resistance point for investors holding BTC for less than 155 days.

The asset has remained below this metric for approximately nine months, following a rejection near the $82,000 level in May. This prolonged period below the short-term holder cost basis historically aligns with bearish or consolidating market phases. A decisive move above $70,700 is required to shift sentiment toward a bullish regime.