• 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.

Conclusion

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.