Yesterday, Bitcoin (BTC) accurately touched the short-term holder cost price of $88,363 in short-term fluctuations, which is widely regarded as an important emotional and support boundary in the market. According to the realized price of short-term holders (STH Realized Price is a key indicator for measuring the average holding cost of short-term investors), it reflects the inflow of short-term funds and the price pressure point in the market.
From the chart data:
Blue curve: The dynamic changes of the cost price of short-term holders closely interact with the market price (black curve). From historical experience, whenever the market price approaches or falls below the cost price of short-term holders, it is usually accompanied by violent fluctuations, which may even trigger a trend reversal.
Key support: The current short-term cost price for holders is $88,363. Yesterday, Bitcoin quickly fell and accurately tested this support level, and then rebounded and stabilized. This indicates that the cost support effect of short-term holders on the market is still strong.
On-chain interpretation: According to on-chain analysis logic, the cost price of short-term holders is often regarded as the "watershed" of market sentiment and capital flow. If the price can steadily stabilize above this level, it may provide confidence for the market rebound; once it falls, it may trigger further selling of short-term panic selling.
The current fluctuations in
Bitcoin prices reflect the market's uncertainty about the macro environment, but from the support effect of on-chain data, the cost level of short-term funds provides an important signal to stop falling.
For holders and market observers, this on-chain signal is crucial. It is recommended to closely monitor the market performance near $88,363 during the subsequent decline, and combine market trading volume, macro dynamics, and other on-chain indicators to judge the market's future direction.
