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Short -term holder made a price (STH RP) for bitcoins
Currently, it is located at $ 98,200, which represents an average price of acquisition on the chain for bitcoins {BTC}, which took place outside the stock reserves and moved in the last 155 days.
This metric derived from heuristics on the chain helps to distinguish between short and long -term holders and, according to Glassnode, provides insight into the market sentiment.
The realized price refers to the average price of acquisition for the whole bunch of bitcoins in circulation based on the last time each coin moved in the chain. STH RP narrows this to recently active coins that are more likely to be spent. These are often the most sensitive to market volatility.
At the weekend, bitcoins were immersed in the middle of geopolitical tension, driven by the escalating conflict between Israel and Iran and growing concerns about the escalation between us and Iran. With closed traditional markets, investors responded by selling liquid assets such as Bitcoin, not necessarily from desire, but a necessity.
Historically, when Bitcoin trades over STH RP, usually signals a bull trend. On the contrary, trading under STH RP is often associated with a bear or consolidation phase.
For example, from June to October 2024, before the US presidential election, Bitcoin remained under the RP sth, which at that time was around $ 62,000. Similarly, in February to April 2025 prices dropped again under this threshold, which was around $ 92,000.
Bitcoin bounced strongly and climbed over $ 100,000 and now traded around $ 101,000. In order to continue the bull dynamics, it will be essential for BTC to stay above RP $ 98,200.
