Bitcoin Short-Term Holder Floor Approaches $100,000 Amid Price Recovery
Bitcoin (BTC) has rebounded from a low of nearly $98,000 to over $107,000. On-chain data indicates that the short-term holder (STH) floor is rising towards $100,000.
Bitcoin STH Floor Approaching $100,000
- Bitcoin’s STH Realized Price is moving toward $100,000, a key psychological level.
- This metric reflects the average price at which BTC held for less than 155 days was acquired.
- Currently, the STH Realized Price is around $98,000.
- Each $500 increase in this price resets the comfort floor for new buyers.
- A bullish price action is suggested as BTC tends to bounce when approaching this average cost.
- The premium between BTC's spot price and STH Realized Price is approximately 7.2%.
- A shrinking premium often signals reduced market froth and can precede upward movement once open interest increases.
- The long-term holder (LTH) Realized Price remains stable at $32,000.
- Long-term coins are likely held in cold storage, indicating strong hands.
If BTC stays above the STH Realized Price, it suggests a trend of higher lows and higher highs. A close below could indicate market weakness.
Experts Predict New High For BTC
- With the STH Realized Price increasing, experts predict BTC may reach a new all-time high (ATH) soon.
- Current analysis points to a potential ATH of $150,000 based on a bullish inverse head and shoulders pattern.
- As of now, BTC is trading at $107,711, reflecting a 2.1% increase in the last 24 hours.
