Bitcoin Price Remains Below Short-Term Holders’ Average Cost Basis of $90,950
The price of Bitcoin is currently fluctuating between $80,000 and $85,000, following a drop from above $90,000. Investors are debating whether this correction presents a buying opportunity or indicates a market top.
Key Insights
- On-chain data suggests monitoring the short-term holders' (STH) average cost basis for potential market reentry.
- The STH average cost basis is currently estimated at $90,950, which is 6% above the current Bitcoin price.
- Bitcoin typically trades above this cost basis during bull markets; falling below it signals potential selling pressure.
- Recent activity shows short-term investors have acquired more than 35,000 BTC in the past four days.
- Currently, Bitcoin's price is just below $86,000, reflecting over a 2% increase in the last 24 hours.
