- Bitcoin has just reclaimed the STH cost basis – a crucial milestone that could set the stage for the next leg up.
- Looks like the bulls aren’t done yet, $93k is just the beginning.
Bitcoin’s [BTC] 13% tumble in Q1 came after a brutal 18% drop in February, triggering a market correction that nobody saw coming. A real plot twist!
March? Oh, that was the month of short-term holder (STH) capitulation, where losses piled up like an avalanche and BTC dropped as low as $77,000. Ouch.
But wait – hold your horses! Despite the chaos, whales kept on buying. Why? Because macroeconomic drama and the thirst for risk were just too tempting. This flood of cash sparked a rally that busted through resistance levels like they were made of paper, triggering a liquidation frenzy among the overleveraged. Fun times, right?
And now, Bitcoin’s at $93,700. A 14% bounce from March’s disaster zone. Who’s laughing now? 👏
For the first time since mid-February, BTC is above its STH cost basis – this could be a market-changing moment. You know, when the mood shifts faster than a teenager at a party.
Bitcoin Flips Above STH Realized Price: Let the Reversal Begin
On April 22nd, Bitcoin soared 6.82% in a single day, closing at $93,489. That’s a resistance level that hadn’t been touched in over a month. Pretty impressive for a crypto that was just crying in the corner a few weeks ago.
And guess what? Short-term holders (STHs) are finally in profit after suffering losses for weeks. They’ve been underwater for so long, they were probably considering buying a snorkel.
But now? They’re making bank. This move screams bullish momentum. It’s the kind of FOMO trigger that could have people scrambling to buy in. If Bitcoin keeps its groove on, STHs will probably hold tight for those juicy returns. After all, who doesn’t love a redemption story?
At $93,986, a whopping 11.72k BTC were bought—the highest in the entire month. Looks like people are finally waking up and moving their coins into cold storage. AMBCrypto’s bullish continuation theory just got a solid boost!
With whales getting involved and STHs flipping from panic to profit, Bitcoin’s market structure has completely shifted gears. Get ready for a price discovery party. It looks like the road ahead is paved with higher resistance zones. Time to buckle up!
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2025-04-25 21:17