20 August 2025
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Bitcoin Faces 10% Correction, Approaching Key Support Level of $108,600
Bitcoin (BTC) is down 10% from its all-time high of over $124,000. The next support level is around $108,600, corresponding to the short-term holder realized price (STH RP).
The STH RP indicates the average acquisition price of coins moved in the last 155 days and serves as a key metric for assessing investor positioning.
Key points include:
- Historically, Bitcoin has used the STH RP level as support during bull markets, often retesting it during corrections of 20% to 30%.
- Since February, BTC has held above this level, with a cycle low at $76,000 noted in April amid market stress from new tariffs.
- The overall Realized Price (RP) trend is upward, indicating investors are accumulating coins at higher prices.
- In the past seven days, both RP and STH RP have increased by over 1%, suggesting continued inflows and confidence among buyers.
- Despite short-term volatility affecting price action, rising cost bases indicate new capital is entering the market, supporting Bitcoin's long-term bullish outlook.