CryptoQuant news, CryptoQuant analyst Darkfost posted that current short-term Bitcoin holders (STHs with holdings less than 6 months ) are facing significant downward pressure. On-chain data shows that the average cost basis for STHs is approximately $85,400, with an average unrealized loss of 19.4%. This range of unrealized losses is directly causing a divergence in the chip structure: some funds are passively consolidating ( recent long-term holders (LTHs) supply, increasing by about 300,000 BTC ); while another portion is highly prone to panic selling, becoming a core resistance that exacerbates short-term market volatility and triggers capitulation-driven sell-offs. Historical data indicates that when STHs have unrealized losses exceeding 25%, it usually signals the market entering an early bottoming phase, but this transition period is often accompanied by extreme volatility to thoroughly cleanse weak hands.