Bitcoin broke past a psychologically important level earlier in the week, signaling a potential bullish pivot for the market.
What’s in store for BTC holders?can be in for a bullish pivot in the near term if the predictions of well-known on-chain sleuth Ali Martinez were to be trusted.The king coin rose to nearly $30,000 earlier this week after an unverified claim by a popular news platform went viral. Although it retreated from the highs, Bitcoin consolidated in the $28,000 zone and hasn’t slipped below, per data from
He went on to state that if BTC manages to stay above this level, bullish market forces would get emboldened.The critical price point highlighted was the short-term holder cost basis or the Short-term Holder Realized Price . The STH RP calculates the average price at which Bitcoin was purchased by investors who held their holdings for less than 155 days.
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