{"id":606264,"date":"2024-05-03T02:00:19","date_gmt":"2024-05-03T02:00:19","guid":{"rendered":"https:\/\/wncen.com\/?p=606264"},"modified":"2024-06-11T07:08:08","modified_gmt":"2024-06-11T07:08:08","slug":"bitcoin-historical-analyst-reclaim-bounce-die","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-historical-analyst-reclaim-bounce-die\/","title":{"rendered":"Bitcoin Loses Historical Level, Analyst Says “Reclaim And Bounce, Or Die”"},"content":{"rendered":"

An analyst has pointed out how Bitcoin recently closed below a historically important on-chain level, a failure to reclaim which could spell trouble for BTC.<\/p>\n

Bitcoin Fell Below Short-Term Holder Cost Basis In Latest Crash<\/h2>\n

In a new post<\/a> on X, Maartunn discussed BTC’s recent close below the realized price of the short-term holders and stressed its importance in reclamation.<\/p>\n

The “realized price<\/a>” here refers to an on-chain indicator that tracks the price at which the average investor on the Bitcoin network acquired their coins. In other words, it measures the average cost basis in the BTC market.<\/p>\n

Related Reading: Bitcoin On Track For $1 Million Per BTC \u201cFair Value\u201d, Analyst Says<\/a><\/div>\n

When the spot value of a cryptocurrency is below this metric, it means that the average investor in the market is carrying their coins at a loss right now. On the other hand, being above the indicator suggests that the holders as a whole are in the green currently.<\/p>\n

In the current topic, the realized price of the entire Bitcoin market isn’t of interest but rather of only a subsection: the short-term holders (STH)<\/a>.<\/p>\n

The STHs are the BTC investors who bought their coins within the past 155 days. These holders represent the inconsistent side of the market, who easily show a reaction whenever a change like a crash or rally occurs in the sector.<\/p>\n

Now, here is a chart that shows the trend in the realized price specifically for these investors over the past year:<\/p>\n

\"Bitcoin<\/p>\n

The price of the asset appears to have seen a cross under this metric in recent days | Source: @JA_Maartun on X<\/a><\/pre>\n
The realized price of the Bitcoin STHs is floating around $58,500. During the latest crash<\/a>, Bitcoin went as low as below $57,000, meaning that the plunge has put these investors under pressure.<\/p>\n
Historically, the average cost basis of the STHs has been significant for the cryptocurrency, as it has taken turns acting as support and resistance, depending on the market’s phase.<\/p>\n
During bullish trends, this metric often acts as a point of support. The chart shows that when Bitcoin had declined near this level earlier in the year, it had found a rebound.<\/p>\n
The metric acts as resistance during bear markets, keeping the price below it. These patterns may be related to how investor psychology works.<\/p>\n
Related Reading: Crypto Analyst Predicts 244% Shiba Inu Rally Based On Bull Flag<\/a><\/div>\n
In bullish periods, the STHs might view their cost basis as a profitable buying opportunity, so they accumulate during dips in it, thus helping the price turn around. In bear markets, these investors could look at the level as a point of exit, as they may not believe the price will go up any further.<\/p>\n
After closing below the STH realized price earlier, Bitcoin is now fighting to reclaim this historical level. It now remains to be seen if support will once again be found or if the level will truly become lost.<\/p>\n
BTC Price<\/h2>\n
Bitcoin has climbed back above the STH realized price, trading above $59,300. This is certainly a sign in the positive direction, but it’s hard to say whether this recovery will last.<\/p>\n
\"Bitcoin<\/p>\n
Looks like the price of the coin hasn't yet recovered much since the crash | Source: BTCUSD on TradingView<\/a><\/pre>\n
Featured image from Maxim Hopman on Unsplash.com, CryptoQuant.com, chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"
An analyst has pointed out how Bitcoin recently closed below a historically important on-chain level, a failure to reclaim which could spell trouble for BTC. Bitcoin Fell Below Short-Term Holder Cost Basis In Latest Crash In a new post on X, Maartunn discussed BTC’s recent close below the realized price of the short-term holders and stressed its importance in reclamation. The “realized price” here refers to an on-chain indicator that tracks the price at which the average investor on the Bitcoin network acquired their coins. In other words, it measures the average cost basis in the BTC market. Related Reading: Bitcoin On Track For $1 Million Per BTC \u201cFair Value\u201d, Analyst Says When the spot value of a cryptocurrency is below this metric, it means that the average investor in the market is carrying their coins at a loss right now. On the other hand, being above the indicator suggests that the holders as a whole are in the green currently. In the current topic, the realized price of the entire Bitcoin market isn’t of interest but rather of only a subsection: the short-term holders (STH). The STHs are the BTC investors who bought their coins within the past 155 days. These holders represent the inconsistent side of the market, who easily show a reaction whenever a change like a crash or rally occurs in the sector. Now, here is a chart that shows the trend in the realized price specifically for these investors over the past year: The price of the asset appears to have seen a cross under this metric in recent days | Source: @JA_Maartun on X The realized price of the Bitcoin STHs is floating around $58,500. During the latest crash, Bitcoin went as low as below $57,000, meaning that the plunge has put these investors under pressure. Historically, the average cost basis of the STHs has been significant for the cryptocurrency, as it has taken turns acting as support and resistance, depending on the market’s phase. During bullish trends, this metric often acts as a point of support. The chart shows that when Bitcoin had declined near this level earlier in the year, it had found a rebound. The metric acts as resistance during bear markets, keeping the price below it. These patterns may be related to how investor psychology works. Related Reading: Crypto Analyst Predicts 244% Shiba Inu Rally Based On Bull Flag In bullish periods, the STHs might view their cost basis as a profitable buying opportunity, so they accumulate during dips in it, thus helping the price turn around. In bear markets, these investors could look at the level as a point of exit, as they may not believe the price will go up any further. After closing below the STH realized price earlier, Bitcoin is now fighting to reclaim this historical level. It now remains to be seen if support will once again be found or if the level will truly become lost. BTC Price Bitcoin has climbed back above the STH realized price, trading above $59,300. This is certainly a sign in the positive direction, but it’s hard to say whether this recovery will last. Looks like the price of the coin hasn’t yet recovered much since the crash | Source: BTCUSD on TradingView Featured image from Maxim Hopman on Unsplash.com, CryptoQuant.com, chart from TradingView.com<\/p>\n","protected":false},"author":542,"featured_media":606300,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,92199,86576,88343,84852,1119,1144],"class_list":["post-606264","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-historical-level","tag-bitcoin-retest","tag-bitcoin-short-term-holder-cost-basis","tag-bitcoin-short-term-holders","tag-btc","tag-btcusd"],"acf":[],"yoast_head":"\nBitcoin Loses Historical Level, Analyst Says "Reclaim And Bounce, Or Die"<\/title>\n<meta name=\"description\" content=\"An analyst has pointed out how 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Keshav has been writing for many years, first as a hobbyist and later as a freelancer. He has experience working in a variety of niches, even fiction at one point, but the cryptocurrency industry has been the longest he has been attached to. In terms of official educational qualifications, Keshav holds a bachelor\u2019s degree in Physics from one of the premier institutes of India, the University of Delhi (DU). He started the degree with an aim of eventually making a career in Physics, but the onset of COVID led to a shift in plans. The virus meant that the college classes had to be delivered in the online-mode and with it came free time for him to explore other passions. Initially only seeking to make some beer money, Keshav unexpectedly landed clients offering real projects, after which there was no looking back. Writing was something he had always enjoyed and to be able to do it for a living was like a dream come true. Keshav completed his Physics degree in 2022 and has been focusing on his writing career since, but that doesn\u2019t mean his passion for Physics has ended. He eventually plans to re-enter university to obtain a masters degree in the same field, but perhaps only to satiate his own interest rather than for using it as a means to find employment.. Keshav has found blockchain and its concepts fascinating ever since he started going down the rabbit-hole back in 2020. On-chain analysis in particular has been something he likes to research more about, which is why his NewsBTC pieces tend to involve it in some form. Being of the science background, Keshav likes if concepts are clear and consistent, so he generally explains the indicators he talks about in a bit of detail so that the readers can perhaps come out having understood and learnt something new. As for hobbies, Keshav is super into football, anime, and videogames. He enjoys football not only as a watcher, but also as a player. For games, Keshav generally tends towards enjoying singleplayer adventures, with EA FC (formerly FIFA) being the only online game he is active in. Though, perhaps due to being ultra-focused on the game, he is today a semi-pro on the EA FC scene, regularly participating in tournaments and sometimes even taking back prize money. Because of his enthusiasm for anime and games, he also self-learned Japanese along the way to consume some of the untranslated gems out there. The skill didn\u2019t merely remain as just a hobby, either, as he put it to productive use during his exploration for small-time gigs at the start of COVID, fulfilling a couple of Japanese-to-English translation jobs. Keshav is also big into fitness, with agility and acceleration-related workouts making a big part of his program due to the relevance they have in football. On top of that, he also has a more traditional strength based program for the gym, which he does to maintain an overall fitness level of his body.","sameAs":["https:\/\/www.linkedin.com\/in\/keshavverma29\/","https:\/\/x.com\/https:\/\/twitter.com\/keshavvarma29"],"url":"https:\/\/wncen.com\/author\/hououinkyouma29\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Loses Historical Level, Analyst Says “Reclaim And Bounce, Or Die”","url":"http:\/\/wncen.com\/news\/bitcoin-historical-analyst-reclaim-bounce-die\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-historical-analyst-reclaim-bounce-die\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/05\/maxim-hopman-fiXLQXAhCfk-unsplash.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/05\/maxim-hopman-fiXLQXAhCfk-unsplash.jpg?fit=6240%2C4160"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Keshav Verma"}],"creator":["Keshav Verma"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin historical level","bitcoin retest","bitcoin short-term holder cost basis","bitcoin short-term holders","btc","btcusd"],"dateCreated":"2024-05-03T02:00:19Z","datePublished":"2024-05-03T02:00:19Z","dateModified":"2024-06-11T07:08:08Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Loses Historical Level, Analyst Says “Reclaim And Bounce, Or Die”\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-historical-analyst-reclaim-bounce-die\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-historical-analyst-reclaim-bounce-die\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/05\\\/maxim-hopman-fiXLQXAhCfk-unsplash.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/05\\\/maxim-hopman-fiXLQXAhCfk-unsplash.jpg?fit=6240%2C4160\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Keshav Verma\"}],\"creator\":[\"Keshav Verma\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin historical level\",\"bitcoin retest\",\"bitcoin short-term holder cost basis\",\"bitcoin short-term holders\",\"btc\",\"btcusd\"],\"dateCreated\":\"2024-05-03T02:00:19Z\",\"datePublished\":\"2024-05-03T02:00:19Z\",\"dateModified\":\"2024-06-11T07:08:08Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/05\/maxim-hopman-fiXLQXAhCfk-unsplash.jpg?fit=6240%2C4160","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/606264"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/542"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=606264"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/606264\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/606300"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=606264"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=606264"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=606264"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}