Bitcoin's short-term holder cost basis, currently around $70,700, remains a significant resistance level, according to CryptoQuant analyst Darkfost. The cryptocurrency has been trading below this cost basis for over nine months, a pattern historically linked to bear market cycles. In May, Bitcoin briefly surged to $82,000, testing this resistance before retreating. Recent data indicates a decline in the short-term holder cost basis, suggesting increased accumulation at lower prices. Darkfost highlights that reclaiming this cost basis could signal a potential market trend shift, as it reflects the buying behavior of short-term investors.