According to CoinMeta, based on the monitoring of early in and the analysis by CryptoQuant analyst Axel Adler Jr, the trading price of Bitcoin has fallen below the cost base for short-term holders. As of August 8th, the trading price of Bitcoin was $64,952, while the actual cost for short-term holders was $67,523, representing a 3.8% difference of $2,571. Over the past 284 days, there have been 279 instances where the closing price of Bitcoin was lower than the actual cost for short-term holders, prompting them to start selling Bitcoin in order to break even.