Bitcoin Breaks Above STH Realized Price For The First Time In Weeks – What’s Next?

Bitcoin is showing early signs of strength, attempting to reclaim the $115,000 level after experiencing selling pressure. The recent weekly close above $114,500 confirms a reclaim of the Short-Term Holder (STH) Realized Price around $113,000. This metric is a key indicator of market sentiment, separating bullish and bearish trends. Analysts view this reclaim as an encouraging sign of renewed buyer confidence. However, a rejection at current levels could lead to another correction phase like that seen in 2024. If Bitcoin sustains its position and breaks above $115,000, a broader bullish trend and a potential retest of $120,000 could follow. The STH Realized Price acts as a crucial support level. Throughout the current bull cycle, Bitcoin has never fallen below the yearly STH Realized Price. The current trading range is between $113,000-$114,000, aligning with the STH Realized Price. The 200-period moving average has been reclaimed as support on the 4-hour timeframe. Trading volume is subdued as investors await the Federal Reserve’s interest rate decision. As long as Bitcoin holds above $113K and preferably above $117,500, a bullish structure will be maintained.