Bitcoin Short-Term Holders Back In Green As Price Breaks $94,000
Summary
Bitcoin has reclaimed the cost basis of short-term holders (STHs), a significant psychological level. The Realized Price indicates the average acquisition cost for investors, with prices above this level suggesting net unrealized profits for holders. STHs, who purchased within the last 155 days, are more likely to sell during price dips, impacting market sentiment. Earlier in the year, Bitcoin's price fell below the STH Realized Price, indicating losses for these investors. Recently, Bitcoin's price surged nearly 6%, reaching $93,600, breaking above the STH Realized Price and potentially restoring confidence among STHs. Historically, bullish sentiment from STHs has provided support for Bitcoin's price.
