Bitcoin reclaimed its short-term holder cost basis convincingly for the first time since April 2025, according to Look Into Bitcoin.
CoinGlass reported an August gain exceeding 25%, putting Bitcoin on course for its best August performance since 2017. The advance unfolded over 10 days, from $62,000 on August 17 to approximately $81,000 on August 25.
Bitcoin subsequently traded near $78,500, while resistance at its declining 50-week moving average continued to limit the broader recovery.
Bitcoin Moves Above Recent Holders’ Average Cost
Bitcoin crossed the Short-Term Holder Realized Price of $67,125 on August 19 and remained above that threshold afterward. At the reported price, Bitcoin stood approximately 17% above this cost basis, providing a buffer above the reclaimed threshold.
The metric measures the average cost basis of coins last moved within 155 days, representing what recent holders paid.
Prices below this threshold leave the cohort with unrealized losses, encouraging selling during rebounds as holders seek to recover costs. A sustained recovery above it puts those holdings into unrealized profit, changing the level’s role from resistance to support.
Bitcoin Ends Ten Months Below Holder Cost Basis
The previous convincing reclaim occurred in April 2025, weeks after Bitcoin reached approximately $75,000 during the tariff selloff.
Bitcoin remained above the threshold throughout that summer before falling decisively below it after the October 10 liquidation cascade. Recovery attempts subsequently failed until the latest breakout, leaving recent holders below their average purchase cost for roughly ten months.
Bitcoin briefly touched this cost basis in May but failed to hold it, reinforcing resistance before the latest breakout.
Look into Bitcoin’s historical examples, including the 2019 recovery, March 2020 crash, mid-2021, late 2022 lows, and periods through 2024. These recoveries have clustered near turning points, although identifying them retrospectively is easier and the full-cycle sample remains small.
Recent holders selling relief rallies four weeks ago now hold paper gains, changing their position during a 5% decline.
Bitcoin Faces Resistance at the 50-Week Moving Average
Bitcoin reached $81,265 this week, touching the 50-week moving average at $81,063 before closing approximately $2,300 beneath it.
The average supported repeated pullbacks during the 2024 and 2025 advance, but that relationship reversed after November 2025’s breakdown. It also acted as resistance during the extended declines of 2018 and 2022.
Its slope has continued falling since November, leaving the longer-term structure unchanged despite the short-term holder reclaim. Rejection at a declining long-term average remains consistent with an existing bearish structure.
A broader trend change requires a weekly close above $81,063, followed by the moving average flattening. Until those conditions occur, the reclaim near $67,000 remains the identified structural improvement, while weekly resistance remains intact.
