Bitcoin Trading Within Short-Term Price Band with Upper Limit at $117,000
On-chain analytics firm Glassnode reports that Bitcoin is currently trading within a short-term price band. The upper level of this band is at $117,000.
Bitcoin Short-Term Holder Price Bands
- Bitcoin trades within a range defined by short-term holders (STHs) who acquired coins in the past 155 days.
- The STH Realized Price tracks the average acquisition cost of these addresses.
- If this metric exceeds Bitcoin's spot price, STHs are in net unrealized profit; if below, they face losses.
- Over the last six months, Bitcoin has traded between the -1 SD and +1 SD lines of the STH Realized Price.
- Currently, Bitcoin is above this metric after rebounding last month.
- The +1 SD line serves as the upper price band, presently around $117,000.
Bitcoin's price increased over 3% in the last day, reaching $109,500.
