Bitcoin’s Realized Price for Short-Term Holders Stands at $81,000
Bitcoin is currently experiencing a price decline, approaching a crucial psychological level. Market speculation is divided on whether this signals an upcoming upward breakout or a correction phase.
Recent on-chain data indicates that metrics such as the realized price for short-term holders are significant for understanding market behavior and potential future trends.
Key Support Level Identified at $81,000
Shayan BTC, in an analysis on the CryptoQuant QuickTake platform, highlighted that the realized price metric for the 1-3 month UTXO (Unspent Transaction Output) age band is vital for assessing investor sentiment among newer participants. This metric reflects the average purchase price of Bitcoin for buyers within the last one to three months. Maintaining a price above this level typically indicates bullish momentum, suggesting confidence among recent buyers despite market volatility.
If Bitcoin's price falls below this threshold, it may trigger selling pressure as short-term holders seek to limit losses. Shayan noted that the current realized price for Bitcoin's 1-3 month holder cohort is $81,000, representing a key support zone for both short-term and long-term investors.
Historically, prices above $81,000 suggest strong market sentiment, with recent buyers confident in Bitcoin’s future potential. Conversely, dropping below this mark could lead to increased selling activity, exerting downward pressure on the market and potentially causing broader sell-offs.
Bitcoin Market Performance
Bitcoin has exhibited limited performance during the holiday season, falling below the $100,000 price mark since mid-December. It experienced a 10.9% drop over the past two weeks, remaining stagnant with minimal upward movement.
Despite a recent 4% increase, bringing the trading price to $95,519, Bitcoin remains approximately 11.9% below its all-time high of $108,135 recorded in mid-December.
Featured image created with DALL-E, Chart from TradingView