Bitcoin Hovers Near $95,500 as Short-Term Holder Cost Basis at $99,460 Marks Key Decision Zone

Bitcoin traded around $95,500 on Jan. 17, leaving a 4% spread below the short-term holder realized cost basis of $99,460, CryptoQuant analyst Axel said. The analyst noted the setup represents a decision zone where price action near this benchmark has historically driven heightened volatility and may either extend the current trend or trigger a reversal. A sustained move above $100,000 would shift sentiment back to bullish as short-term holders return to profit, while a drop below roughly $89,500—a discount wider than -10%—would significantly increase stress on loss-making positions, Axel added.