Bitcoin rally above short-term holder metric has traders calling for new BTC price highs
Bitcoin’s recent rally put its price above a key bull market metric. Are new highs inbound?
Bitcoin (BTC) rallied above $62,000 on Sept. 19, rising above its short-term holder (STH) realized price and showing potential for further gains, according to onchain data.
The STH realized price is a metric that calculates the average price at which short-term investors—those who have held their coins for less than 155 days–have purchased their Bitcoin. It acts as support in uptrends because these holders are more likely to buy if the price rises above their entry point.
CryptoQuant analyst Avocado_onchain explains that STH realized price “has consistently acted as a critical support and resistance level” for Bitcoin.
Go to Source
Author: Nancy Lubale
