On-chain data suggests the $28,100 level could be the next major resistance to break for Bitcoin if history is anything to go by.
Bitcoin Short-Term Holder Cost Basis Is Valued At $28,100 Currently
As pointed out by an analyst in a CryptoQuant post, the BTC price has recently neared the short-term holders’ realized price. The “realized price” is a metric that basically represents the cost basis (that is, the buying price) of the average investor in the Bitcoin market.
When the spot price of the asset dips below this indicator, the majority of the holders go underwater, while breaks above the level naturally result in the average investor moving into a state of profit.
Related Reading: Bitcoin Bullish Signal: Exchange Netflow Remains Negative
In the context of the current discussion, the realized price for only a segment of the cryptocurrency’s user base is of interest; namely, the “short-term holders” (STHs).
The STHs include all investors who have been holding onto their c
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