Bitcoin Reaches $107,711, 2.1% Gain as Short-Term Holder Floor Rises

Bitcoin (BTC) has shown resilience following a brief drop to nearly $98,000 over the weekend, recovering to trade above $107,000. Recent on-chain data indicates that the short-term holder (STH) floor for BTC is steadily rising toward the $100,000 level, reinforcing bullish sentiment in the market.

The STH Realized Price, which represents the average price at which all Bitcoin held for less than 155 days was acquired, has been gradually increasing. This metric serves as a crucial psychological and technical support level. When the market price stays above it, short-term holders are in profit and more confident, whereas if it falls below, fear and selling pressure often increase. Currently, the STH Realized Price is around $98,000.

Each $500 rise in the STH Realized Price effectively resets the “new buyers’ comfort floor.” As this metric approaches six figures, the mental stop-loss for newer investors also moves upward. Historical price action suggests a bullish structure, where selling pressure diminishes as soon as BTC revisits its average cost basis. The premium, the difference between BTC’s spot price and STH Realized Price, currently hovers around 7.2%. A shrinking premium, typically under 10%, has historically signaled reduced market froth and often preceded the next leg up once open interest began to rebuild.

On the long-term side, the long-term holder (LTH) Realized Price remains largely unchanged at $32,000, roughly one-third of the STH Realized Price. These long-term coins are likely held in cold storage, indicating “strong hands” with little incentive to sell. The analyst observes that as long as BTC lives above the STH Realized Price, the prevailing tide is still higher-lows, higher-highs. Losing it on a daily close would provide the first real gut-check since April; otherwise, the bull engine is merely cooling its cylinders.

As BTC’s STH Realized Price continues to surge higher, resulting in a higher floor price for the digital asset, several crypto experts seem to agree that the cryptocurrency may soon reach a new all-time high (ATH) in the coming months. For instance, Bitcoin is forming a bullish inverse head and shoulders pattern on the three-day chart, eyeing a potential ATH of as high as $150,000. At press time, BTC trades at $107,711, up 2.1% in the past 24 hours.