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[CryptoQuant Analyst: Bitcoin Falls Below Short-Term Holder Purchase Price] CryptoQuant analyst @AxelAdlerJr stated that Bitcoin's price has fallen below the average purchase price of short-term holders, with STH-SOPR (30D) dropping to 0.98. Two on-chain indicators show that selling pressure from new market participants is increasing. The 30-day SOPR moving average falling to the 0.98 range indicates that short-term holders are, on average, selling tokens at a loss. Further declines in this indicator will intensify selling pressure and lead to new local lows. A key reversal confirmation signal would be the price recovering above the STH realized price and SOPR rising above 1.