Woofun AI data shows that Bitcoin short-term holders, defined by holding periods under 155 days, have experienced realized losses for approximately nine consecutive months. This prolonged negative return period aligns with characteristics typically observed in bear market conditions.

The estimated cost basis for these participants stands at $68,800, indicating ongoing selling pressure. As Bitcoin attempts to maintain support above $65,000, short-term holders are projected to continue liquidating positions at an approximate 4% loss.