Glassnode: The Bitcoin price is about 7% higher than the cost basis of short-term holders. If it falls below this level, it indicates a weakening sentiment among new investors

ChainCatcher message, Glassnode posted on platform X: "The short-term holder (STH) cost model for Bitcoin is crucial for measuring the sentiment of new investors. Historically, this model tracks market lows during bull market cycles and distinguishes between bull and bear markets.

Currently, the BTC price is about 7% higher than the STH cost basis ($88,135). If the price stabilizes below this level, it may indicate that the sentiment of new investors is weakening------this is often a turning point in market trends."