Bitcoin Falls Below STH Realized Price; Next Support at $88,000
Bitcoin is currently struggling to reclaim its short-term holder (STH) Realized Price, a key on-chain metric. Here's a concise summary of the situation:
- The STH Realized Price measures the cost basis for Bitcoin holders who acquired their coins in the past 155 days.
- This metric often acts as a boundary between bullish and bearish trends.
- Recently, Bitcoin fell below the STH Realized Price, which is at $113,100, indicating potential weakness.
- The cryptocurrency's price has not closed a weekly candle above this level, suggesting further challenges.
- The next support line is the Active Realized Price, valued at $88,000.
Bitcoin's price has decreased by nearly 3% in the past day, now trading around $109,900. It remains uncertain if it will recover above the STH Realized Price or face a deeper correction.
