Bitcoin Retests STH Cost Basis Again: Is This Where Support Flips?
Bitcoin has faced another retrace in the past day that has brought its price to the short-term holder cost basis, a level that has acted as support thus far. Bitcoin Is Making Yet Another Retest Of The STH Realized Price As explained by CryptoQuant community analyst Maartunn in a new post on X, Bitcoin could be at the fourth step of the short-term holder (STH) Realized Price cycle. The “Realized Price” here refers to an indicator that measures the average cost basis of the investors on the BTC network. When the value of this metric is greater than the spot price, it means the....
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Bitcoin might have an easy path toward the $40,000 mark as on-chain data suggests there isn’t much resistance ahead. Bitcoin Levels Ahead Are Thin With Addresses Right Now According to data from the market intelligence platform IntoTheBlock, there isn’t any exceptionally large resistance ahead for BTC. In on-chain analysis, resistance and support levels are defined on the basis of whether a large number of investors have bought their coins at the price levels or not. The reason behind this is that the holders often show some reaction to the spot price retesting their cost basis....
On-chain data shows the Bitcoin spot price is currently sandwiched between two zones where a large number of investors last bought their coins. Bitcoin Is Trading Between Two Major On-Chain Demand Zones In a new post on X, analyst Ali Martinez has talked about where the key Bitcoin on-chain support and resistance levels currently lie. In on-chain analysis, support and resistance levels are defined based on investor cost basis. The reason behind this is naturally the fact that holders are particularly sensitive to retests of their break-even mark. How exactly an investor would react to a....