Overview
- Bitcoin trades around the mid-$90,000s after a brief push toward $97,000, remaining beneath the short-term holder realized price near $102,000.
- On-chain analyst Darkfost identifies that level as the key behavioral pivot after removing a Coinbase-related movement of about 800,000 BTC from the dataset.
- Short-term holders are currently underwater and have been taking profits on rebounds, with the risk of break-even selling if price fails to reclaim $102,000.
- Trader Merlijn The Trader flags a developing daily double-bottom that would target roughly $110,000 on a clean break above $102,000, with structure at $95,500 and invalidation near $87,500.
- Glassnode’s Chris Beamish says regaining the short-term holder cost basis is necessary for bullish momentum to re-accelerate.