Bitcoin Lags Under STH Realized Price Of $63,000 — What Does This Mean?

Quick Summary:

CryptoQuant revealed in its latest weekly report that the behavior of Bitcoin holders in the current cycle mirrors the 2016 and 2020 halving years, indicating a potential price growth for the market leader.  Related Reading: Similarities Between October 2023 And 2024 Suggests The Bitcoin Price May Still Experience Uptober’ The on-chain analytics firm highlighted that the short-term Bitcoin supply increased following the launch of spot exchange-traded funds (ETFs) in early 2024.

In a recent post on the X platform, crypto analyst Ali Martinez revealed $63,000 as the realized price for Bitcoin short-term holders, explaining the relevance of this level to the asset’s long-term health.

Recent on-chain data suggests that the price of Bitcoin might continue to turn in a sluggish performance, as short-term holders remain under pressure.

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Article Details

Author / Journalist: Opeyemi Sule

Category: Crypto

Markets: United KingdomOman

Topics: Bitcoin Bitcoin Ali Martinez Btc Bitcoin price BTCUSDT

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-06 @ 10:00:37 (13 hours ago)

News Timezone: GMT +8:00

News Source URL: newsbtc.com

Language: English

Article Length: 360 words

Reading Time: 2 minutes read

Sentences: 63 lines

Sentence Length: 6 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © NewsBTC

News ID: 22908186

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Main Topics: Crypto

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