Bitcoin short-term cost basis approaches profitability, but $80K must flip to support first

Despite Bitcoin (BTC) trading above $80,000 and a general euphoric sentiment in the broader crypto markets, the article indicates that the sustainability of the current bull trend hinges on overcoming critical market structure hurdles. Specifically, BTC's price must rally significantly past the aggregate cost basis of short-term holders. Furthermore, the $80,000 price level, which BTC recently traded above, needs to firmly establish itself as a support level rather than resistance to confirm the upward momentum and cement a lasting bull trend.