maartunn

Short-Term Holders Are Not Done With This Bitcoin Rally 😱

The Realized Price of Short-Term Holders is an important on-chain support level for the price of Bitcoin. In the past, it has often served as support and resistance, which is why it is important to look at this on-chain metric. In recent days, things got exciting as the price of Bitcoin fell below the average purchase price of short-term holders. This could potentially lead to short-term holders selling when they break even. But that didn't happen. On the contrary, short-term holders saw it as an opportunity to buy relatively cheap Bitcoin, resulting in a price increase. The price of Bitcoin is currently above the Realized Price of Short-Term holders. As long as this serves as support, we can expect higher prices. And we have the short-term holders to thank for that.