• At its press time price, BTC was “stuck” between short-term and longer-term realized prices.
• For market sentiment to improve, its price had to rally above the short-term realized price.

The sentiment around Bitcoin [BTC] is likely to improve once its price surpasses the realized price of short-term holders (LTHs), pseudonymous CryptoQuant analyst SignalQuant opined in a new report. 

Is your portfolio green? Check out the BTC Profit Calculator

BTC’s realized price refers to the average price at which all Bitcoins have been moved over their lifetime. When the realized price is above the market price, it means that market participants are in profit on average.

Conversely, coin holders are at a loss when the realized price is below the current price. 

For BTC short-term holders (STH), their realized price refers to the average price at which coins purchased in the last six months were acquired. For long-term holders (LTH), it is the average price at which all coins that have not been moved in the last six months were originally purchased.

Data retrieved from Glassnode showed that as of 12 September, BTC’s realized price for its short-term holders was $27,975.

According to SignalQuant, this price mark acted as a support level for the king coin in January before bearish sentiments overran the market, turning the same into resistance. 

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Author: Abiodun Oladokun

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