According to the latest analysis from the on-chain data platform, an indicator specifically used to track the profit and loss status of new investors has revealed interesting information.

Since November of this year, short-term holders who have held their coins for only a few months have generally fallen into a loss. What does this mean? Simply put, these relatively latecomer investors now have green accounts.

Interestingly, the data also provides a critical point — BTC needs to rebound to about $98,000 for this group to collectively turn green and re-enter the profit zone. This price point has become the "psychological cost basis" for short-term holders.

From another perspective, this also reflects the recent market entry structure. The new funds that entered at high levels are still "trapped." From an on-chain indicator perspective, such data is often very useful for judging market bottoms and rebound potential.