ChainThink report, October 13: Analyst Axel Adler Jr. stated that on-chain data shows the average cost basis of Bitcoin long-term holders (LTH) is $48,600, with the current price approximately 72% higher than their cost.

This group has remained in profit since January 2023, with the most recent proximity to their cost basis occurring in March 2023.

The LTH average cost basis peaked at $49,500 on July 30 before declining by 1.7%. Over the past 74 days since August 1, 60 days recorded negative weekly changes;

The largest single-week decline was 0.34% on August 25, with the current reading at -0.06%. Axel Adler Jr. noted that the current decline remains relatively mild;

If it continues downward, it may indicate accelerating sell-offs; if it turns positive again, it would suggest long-term holders are reaccumulating.