Bitcoin Struggles Below $82,000 Amid Short-Term Holder Selling Pressure
Bitcoin's price is currently below $82,000, reflecting a 0.3% increase in the last day and a 24.3% decline from its all-time high of over $109,000 reached in January.
Short-Term Holder Realized Price: A Key Market Indicator
Analyst Yonsei Dent has identified resistance levels between $86,000 and $90,000, where many short-term holders (STHs) are at a loss. Key points include:
- Current weighted average Realized Price for 1W–6M STHs is $91,800, indicating recent buyers are holding at a loss.
- The 3–6M STH Realized Price is $86,100, representing significant resistance due to their large share of Realized Cap.
What This Means for Bitcoin’s Price Action
As Bitcoin hovers around $86,000 to $90,000, selling by STHs could increase volatility. If it fails to break these resistance levels, downward pressure may ensue. Key metrics include:
- 6–12M Long-Term Holder (LTH) Realized Price at $63,700, with $64,000 as a historical support level.
- If buying demand can counteract selling pressure, Bitcoin might establish a bullish trend. Otherwise, lower support levels may be retested.
As Bitcoin navigates the $86K → $90K range, STHs looking to exit at break-even may increase market turbulence. The key question is whether buying demand will be strong enough to absorb this pressure.
