On-chain analyst Murphy pointed out that as of October 31, the total supply of BTC held by short-term holders was 2.2353 million coins, of which 1.147 million coins were in a floating loss state, accounting for 51.3%. The cost structure of short-term holders' positions shows a bimodal structure, with 1.145 million coins concentrated in the high-cost zone of $78,000 to $86,000, and 556,000 coins concentrated in the low-cost zone of $60,000 to $65,000. The average daily net reduction of low-cost coins was 6,733 coins in September, and the slowdown was in October.
