Bitcoin Falls Below STH Cost Basis, Signaling Potential Buy Opportunity
Bitcoin's price remains stable between $106,000 and $108,000 after a recent 3.41% decline. This stability follows a volatile trading week.
Bitcoin Short-Term Holders Underwater; Historical Data Indicates Bullish Potential
- Market analyst Ali Martinez highlights Bitcoin's fall below the short-term holders' (STH) realized price as an opportunity for market accumulation.
- The STH realized price is the average acquisition price for coins held under 155 days; falling below this indicates new entrants are at a loss.
- Historical data shows similar dips have previously led to market rebounds, creating buy opportunities for strategic investors.
- Long-term holders are potentially using current prices to bolster their positions, sustaining a bullish market outlook.
Bull Market Perspective
- Analyst Titan of Crypto asserts the Bitcoin bull market persists despite bearish speculations.
- The 38.2% Fibonacci retracement level is seen as crucial for maintaining the bull market.
- Bitcoin currently trades at $106,800, with a slight 0.40% daily decline; trading volume decreased by 61%, totaling $39.3 billion.
