LONDON (IT BOLTWISE) – Bitcoin price has fallen below short-term holders’ cost base, providing a potential buy signal. Historical data suggests that such situations often lead to market accumulation that could fuel future price rallies.
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Bitcoin price has stabilized in the $106,000 to $108,000 range over the past 24 hours. This stability follows a volatile trading week that saw a price loss of 3.41%. Despite this correction phase, an interesting on-chain signal with bullish implications is emerging. According to market analyst Ali Martinez, Bitcoin fell below the realized price of short-term holders (STH), which historically is often a sign of market accumulation.
The realized price of STH represents the average acquisition price of coins held by short-term investors, i.e. wallets that hold BTC for less than 155 days. If the market price falls below this level, it means that new entrants are in the red, indicating local capitulation and short-term fear in the market. Based on Glassnode data, Bitcoin fell below its STH realized price on October 14, which typically triggers short-term selling pressure. However, historical data shows that this can also be a signal for strategic buyers.
Interestingly, the broader Bitcoin market remains dominated by long-term holders, who may use this price pocket to strengthen their holdings and thereby maintain the current bullish structure. Another market analyst known as Titan of Crypto emphasizes that the Bitcoin bull market remains active despite the recent price declines. He bases his positive market view on the 38.2% Fibonacci retracement level, which is considered crucial in determining price direction in the current market cycle.
At the time of publication, Bitcoin is valued at $106,800, down slightly by 0.40%. Daily trading volume is down 61% and amounts to $39.3 billion. These developments could be of interest to investors looking for strategic buying opportunities, especially as historical patterns indicate possible future price rallies.
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