[2024-07-26] Bitcoin Tests Historical Support Level

[CoinTürk]

Bitcoin, while retesting a historically significant support level, has investors and market observers focusing on this critical point. Bitcoin’s price recently experienced a significant drop, falling to $64,000. Falling below this level is associated with Bitcoin’s market value dropping below the “Realized Price” of short-term holders (STHs), an important on-chain metric. The Realized Price represents the average purchase cost of Bitcoin, indicating whether investors are currently in profit or loss.

Read the full article here: https://en.coin-turk.com/bitcoin-tests-historical-support-level/

[cr1776]

You have to think that some/many of the STHs will turn into LTHs. Of course the LTHs as defined by many are quite short term.