Bitcoin STH Average Cost Basis At $90,950 — Why Is It Relevant?
Bitcoin’s price continues to show a level of motility within the newly formed dance range between $80,000 and $85,000. Investors want to know if the Prime Minister lost more than $90,000 in holdings Continuous corrections It is an opportunity to “buy dipping sauce” or where the market is at the top.
While there is no definite way to remove these questions, on-chain data can provide relevant insights about what is coming. The latest on-chain data shows that the highlighting level below is the level that investors want to watch before returning to the market.
Levels to watch before “buy dipping sauce”
In the latest post on X platform, crypto analyst Maartunn shared Technically, it may not be certain to re-enter the Bitcoin market at the current price. This analysis is based on the movement of the current value of the Bitcoin price relative to the average cost basis of the Short-term Holder (STH).
The STH average cost basis metric estimates the average price of coin acquired by short-term holders (investors who own Bitcoin for less than 155 days). It represents the psychological level of BTC investors and can serve as a reference point for price analysis, especially during the bull week.
Bitcoin usually has a higher average cost basis for short-term holders during a bull market than for short-term holders’ trading. Buying pressure and short-term investors’ optimism. On the other hand, when the price of BTC is below this cost basis – as shown by the ongoing correction, this means short-term investors are in a loss state, which can lead to a sell-off and create huge bearish pressure.
According to CryptoQuant, Bitcoin price is currently below 6% of short-term holders Average cost basis $90,950. As flagship cryptocurrencies are below the realization price of short-term holders, BTC prices may face further sales pressure as the investor queue hopes to minimize their losses.
Maartunn uses this logic to point out that investors may want to wait until the price of Bitcoin climbs to a STH average cost price before the market is higher. Interestingly, short-term investors still seem to be loading their luggage. Crypto analyst Ali Martinez reveal In the post on X, short-term holders have purchased over 35,000 BTC in the past 4 days.
The price of Bitcoin is clear at a glance
As of this writing, BTC’s price is below $86,000, reflecting a growth of more than 2% over the past 24 hours.
