Tag: Bitcoin short-term holders

Bitcoin Struggles To Hold Key Support: Could $88,000 Be Next?

Bitcoin has struggled to reclaim the short-term holder Realized Price, a key on-chain level. Here’s where the next major support line lies for the asset.

Bitcoin Has Again Dipped Below STH Realized Price

In its latest weekly report, on-chain analytics firm Glassnode has discussed about some key Realized Price levels for Bitcoin. The “Realized Price” here refers to an indicator that measures the cost basis of the average investor or address on the BTC network.

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When the metric is trading above the asset’s price, it means the holders as a whole are sitting on a net unrealized profit. On the other hand, it being below the spot BTC value implies the dominance of loss on the blockchain.

The Realized Price of the entire network is generally not useful, as often, the cryptocurrency’s price trades significantly over it. The reason behind this lies in the fact that a notable part of the asset’s supply has been dormant for years, possessing a cost basis far below today’s price.

In fact, a chunk of this dormant supply will never return to circulation, as the wallets holding such tokens have had their keys become permanently inaccessible. To account for this, Glassnode came up with the “Active Realized Price,” a metric that only tracks the cost basis of the supply that can be considered economically active.

Below is the chart shared by the analytics firm that shows how the Realized Price and Active Realized Price of Bitcoin have changed since the last bull market.

The price of the coin seems to be above both of these lines at the moment | Source: Glassnode’s The Week Onchain – Week 43, 2025

As is visible in the graph, Bitcoin last interacted with the Realized Price in 2023. Since finding a rebound at it back then, the coin has only moved away from the line.

The cryptocurrency has been trading much closer to the Active Realized Price since breaking above it in late 2023, but even in its case, the gap is still notable. A version of the indicator that BTC regularly interacts with, however, is the third type listed on the chart: the short-term holder cost basis.

Short-term holders (STHs) refer to the Bitcoin investors who purchased their coins within the past 155 days. This cohort represents the recent buyers, who can be reactive to changes in the market.

The Realized Price of the group, which is often considered a divider between bullish and bearish trends, is currently located at $113,100. Bitcoin first fell below this mark during its crash earlier in the month, but the recovery surge took it back above the line. Though the latest retracement has once again brought the asset under it.

“Over the past two weeks, Bitcoin has struggled to close a weekly candle above this key level, raising the risk of further weakness ahead,” noted Glassnode. The next on-chain support level is the Active Realized Price, currently valued at $88,000.

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It now remains to be seen whether BTC can recover above the STH Realized Price, or if a deeper correction is coming.

BTC Price

Bitcoin has fallen by nearly 3% during the past day, with its price coming down to the $109,900 level.

The trend in the price of the coin over the last five days | Source: BTCUSDT on TradingView

Featured image from Dall-E, Glassnode.com, chart from TradingView.com

Keshav Verma

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October 30, 2025
Bitcoin Slips Below STH Cost Basis – Why This Could Be A Buy Signal?

Bitcoin price has continued to hover in the range of $106,000-$108,000 over the last 24 hours. The premier cryptocurrency is presently displaying some stability following another volatile trading week, which produced a 3.41% price loss. Notably, Bitcoin’s movement amid this corrective phase has triggered an interesting on-chain signal with bullish implications.

Bitcoin Short-Term Holders Go Underwater, But Historical Data Reads Bullish Signs

In an X post on October 18, popular market analyst, Ali Martinez, shares an important on-chain development. Amid the recent price decline, Martinez notes that Bitcoin slipped below its short-term holders’ (STH) realized price, creating an ideal situation for a market accumulation based on historical data.

For context, the STH realized price represents the average acquisition price of coins held by short-term investors, i.e, wallets that have held BTC for less than 155 days. Typically, when the market price dips below this level, it indicates that new market entrants are underwater, signaling local capitulation and short-term fear in the market

Based on the Glassnode data shared by Martinez, Bitcoin fell below its STH realized price on October 14 during its latest price correction. While such developments usually trigger temporary selling pressure, historical data show it has also become a cue for strategic buyers.

In particular, the price dip below the STH realized price appears to align with strong rebound points in the market. Notably, the chart above shows four prior instances (May 2023, November 2023, August 2024, and May 2025), where Bitcoin’s descent below the STH realized price was followed by substantial recoveries.

Martinez explains that this price dip usually provides a good opportunity for market accumulation, thereby fueling future price rallies. Interestingly, the broader Bitcoin market remains dominated by long-term holders, who are potentially utilizing this price pocket to strengthen their holdings, thus maintaining the present bullish structure.

Bull Market Still On

In other news, a fellow market analyst with the username Titan of Crypto has recently stated that the Bitcoin bull market remains active amid bearish speculations following the latest price drops. Titan of Crypto has hinged their positive market insight on the 38.2% Fibonacci retracement level, which has acted as a pivotal level in determining price direction in the current market cycle

The analyst notes that as long as Bitcoin’s weekly candle holds above this level, the broader bull market continues to stay active. At press time, Bitcoin is valued at $106,800, reflecting a minor 0.40% decline in the past day. Meanwhile, daily trading volume is down by 61% and valued at $39.3 billion.

Semilore Faleti

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October 19, 2025
Bitcoin STH Exchange Inflows Hit $5.7B: Profit-Taking Already Underway?

On-chain data shows the Bitcoin short-term holders have just made large deposits to exchanges, a potential sign profit-taking is underway.

Bitcoin Short-Term Holder Exchange Inflows Have Shot Up

In a new post on X, CryptoQuant community analyst Maartunn has talked about the latest trend in the deposits being made by Bitcoin short-term holders to centralized exchanges.

The “short-term holders” (STHs) refer to the BTC investors who purchased their coins within the past 155 days. The STHs make up for one of the two main divisions of the network done on the basis of holding time, with the other side being known as the “long-term holders” (LTHs).

Historically, the former cohort has proven to include the weak hands of the market who panic sell whenever volatility emerges in the asset, while the latter is made up of the blockchain’s diamond hands.

Bitcoin has witnessed a sharp rally over the past week that has taken it past the $122,000 level. Considering the nature of the STHs, it would be expected that they would be looking to take some profits.

For LTHs, tracking selling can be simple because as soon as a member of the cohort breaks their dormancy, their coins exit the cohort and enter the STHs, as their age counter resets back to zero. It’s not quite as easy in the case of the STHs, however, as the group’s coins are constantly in motion within its members.

One way to gauge STH selling is through their transactions to exchanges. Generally, one of the main reasons why investors use these centralized platforms is for trading-related purposes, so deposits to them can be an indication that there is demand for selling the cryptocurrency.

Below is the chart shared by Maartunn that shows the trend in the exchange inflows coming from the Bitcoin STHs.

As is visible in the graph, the Bitcoin STH deposits to exchanges have shot up alongside the latest price rally. The inflows that have spiked have specifically been the profit ones, with there being no loss deposits at all. Thus, it seems the buyers who got in during the price all-time high (ATH) are choosing to hold through this run.

In total, the STHs have transferred 46,276 BTC over a 24-hour span during the latest run. At the current exchange rate, this is equivalent to a whopping $5.7 billion. The analyst notes that this is one of the largest spikes that the indicator has seen recently.

It now remains to be seen whether enough demand will appear to absorb this selling pressure, or if the profit-taking will provide impedance to the Bitcoin rally.

BTC Price

At the time of writing, Bitcoin is floating around $122,700, up more than 11% over the last seven days.

Keshav Verma

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October 3, 2025
Bitcoin Rebounds After Nearing Cost Basis Of Short-Term Whales
Bitcoin has found a rebound back above the $66,000 mark following a drop towards the on-chain cost basis of the short-term holder whales.

Bitcoin Drawdown Had Nearly Put Short-Term Whales Under Pressure

As pointed out by an analyst in a CryptoQuant Quicktake post, BTC’s price had neared the Realized Price of the short-term holder whales during the recent drop, but had still managed to remain above the level.

The “Realized Price” here refers to an on-chain indicator that, in short, keeps track of the cost basis (that is, the acquisition price) of the average investor in the Bitcoin market.

When the spot price of the cryptocurrency is trading above this level, it means that the investors as a whole are in a state of unrealized profits right now. On the other hand, it being under implies the overall market is carrying losses.

In the context of the current discussion, the Realized Price of the entire Bitcoin market isn’t of interest, but that of only a part of it: the short-term holder (STH) whales.

The STHs refer to the BTC investors who bought their coins within the past 155 days, while the whales are categorized as entities holding greater than 1,000 BTC. As such, the STH whales would refer to the large investors who bought during the last five months.

Naturally, the Realized Price of this group would indicate the average whale buying price over the past five months (and this price would obviously have to be one the cryptocurrency had traded at on some occasion inside this timeframe).

Now, here is a chart that shows the trend in the Bitcoin Realized Price for the STH whales over the last decade:
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The value of the metric appears to have shot up in recent months | Source: CryptoQuant
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From the graph, it’s visible that the Realized Price of the STH whales has rapidly climbed alongside the sharp rally Bitcoin has gone through this year. This makes sense, as the STHs represent the new hands coming into the market, who would have to buy at higher prices as the asset’s surge would continue.

Not only that, but the STHs who age past the 155 days mark (that is, those who bought at the relatively low prices) exit out of the cohort, thus raising the average even further.

The group that these matured investors advance to is known as the long-term holder (LTH) cohort. In the same chart, the quant has also attached the data for the Realized Price of the LTH whales as well.

It would appear that these veteran whales have their cost basis at just $21,500, meaning that these investors would be getting some big rewards for their patience. In contrast, the STH whales have their Realized Price at $60,700.

During Bitcoin’s recent drawdown, the asset had come close to retesting this mark. Such retests have historically lead to reactions in the market and during bull runs, this reaction has often appeared in the form of buying. This may be why the cryptocurrency found its rebound near the $60,700 level.

BTC Price

With its latest rebound, Bitcoin has so far managed to recover back towards the $66,500 level.
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Looks like the price of the coin has made some recovery from its recent drop | Source: BTCUSD on TradingView
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Featured image from Thomas Kelley on Unsplash.com, CryptoQuant.com, chart from TradingView.com

Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.
Keshav Verma

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April 15, 2024
Bitcoin Short-Term Holders Just Locked In $647 Million In Profits
On-chain data from Glassnode shows that the Bitcoin short-term holders have recently participated in a massive $647 million profit-taking event.

Bitcoin Short-Term Holders Have Realized Large Net Profits Recently

According to data from the on-chain analytics firm Glassnode, the short-term holders have given a strong reaction to the $52,000 break. The “short-term holders” (STHs) here refer to the Bitcoin investors who bought their coins within the past 155 days.

Statistically, the longer an investor holds onto their coins, the less likely they become to sell at any point. The STHs have a relatively low holding time, so they easily sell during price rallies or crashes.

On the other hand, the “long-term holders” (LTHs), which make up the rest of the userbase (that is, those withholding time greater than 155 days), tend to carry a strong resolve.

Since the STHs are fickle-minded, it’s not surprising that they have made some selling moves after the latest rally in the asset. One way to gauge the reaction of this cohort is through the “Net Realized Profit/Loss” metric.

This indicator keeps track of the net profit or loss the investors realize across the network. The metric finds this value by going through the on-chain history of each coin being transferred right now to check the price it was moved at before.

Assuming that a change of hands occurred in the previous transfer and that another such change is happening with the current one, then the coin’s sale would realize a profit or loss equal to the difference between the two prices.

The Net Realized Profit/Loss sums up all such profits and losses and outputs the net value. Now, here is a chart that shows the trend in this indicator specifically for the Bitcoin STHs over the past few years:
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Looks like the value of the metric has been significantly positive in recent days | Source: Glassnode on X
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As displayed in the above graph, the Bitcoin STH Net Realized Profit/Loss has spiked to highly positive levels recently, implying that these investors’ profits have significantly outweighed the losses.

This cohort has realized $647 million in net profits during this latest selling spree. The chart shows that the last time the indicator was at higher positive values was back around the formation of the 2021 all-time high.

The current values aren’t off this mark, but the STH Net Realized Profit/Loss levels that hit back during the first half of the 2021 bull run are still far away. For perspective, the peak in the metric achieved back then was $2.5 billion, which remains the all-time high for the indicator.

BTC Price

Since the rapid surge above $52,000, Bitcoin has calmed down slightly, as it has moved sideways in the past few days. At present, BTC is trading at around $52,500.
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The price of the asset seems to have slowed down in the last two days or so | Source: BTCUSD on TradingView
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Featured image from Kanchanara on Unsplash.com, charts from TradingView.com, Glassnode.com

Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.
Keshav Verma

Source link
February 16, 2024