On-chain data shows Bitcoin is fast approaching the cost basis of the short-term holders, a retest of which could potentially change the asset’s course.
Bitcoin Is Nearing The Short-Term Holder Realized Price
As pointed out by CryptoQuant author Axel Adler Jr in a new post on X, Bitcoin could be closing in on the Realized Price of the short-term holders. The Realized Price here refers to an on-chain indicator that measures the cost basis of the average investor or address on the BTC network.
When the cryptocurrency’s spot price is trading above this indicator, it means the holders as a whole are sitting on some net unrealized profit. On the other hand, it being under the metric suggests the overall network is underwater. In the context of the current topic, the Realized Price of a specific segment of investors is of focus: the short-term holders (STHs). These are the holders who purchased their BTC over the past 155 days.
Here is the chart shared by the analyst that s
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