Bitcoin Short-Term Holders Rejoice: Price Above Realized Price for 1st Time Since 2019
• Bitcoin short-term holders realized price is above realized price for first time since 2019.
• The same event occurred in the 2015 bear market on Nov. 3, 2015, where STH realized price exceeded the realized price.
• Currently, STH realized price is at $19,892 and could signal a potential end to the bear market.
Bitcoin’s Short-Term Price Above Realized Price
For the first time since May 5th, 2019, Bitcoin’s short-term holder (STH) realized price has exceeded its overall realized price.
Realized Prices Defined
Realized Price: This reflects the average on-chain acquisition prices for the entire coin supply.
Short-Term Holder (STH) Realized Price: This reflects the average on-chain acquisition prices for coins held outside exchange reserves that have been moved within 155 days.
Long-Term Holder (LTH) Realized Price: This reflects the average on-chain acquisition prices for coins held outside exchange reserves that have not been moved within 155 days.
Current Market Situation
Currently, STH realized price is at $19,892 while overall realized price is at $19,850. To increase cost basis of the STH cohort Bitcoin needs to stay above $20k in short term.
Potential End To Bear Market?
In upcoming weeks we may see STH realzied pric trying to get above LTH realzied which currently stands at a difference of $3k; this could be an indicator of potential end to bear market.
This current bear market cycle behaves similarly as previous ones; however it’s still important to monitor metrics like Realzied Prices as they can provide insight into Bitcoin’s current state and possible future movements.