Bitcoin

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<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-tests-historical-support-level/" data-wpel-link="internal">Bitcoin Tests Historical Support Level</a><br></p>
<p style="text-align: justify"><strong><a href="https://en.coin-turk.com/bitcoins-price-forms-death-cross-formation/" data-wpel-link="internal">Bitcoin</a></strong>, while retesting a historically significant support level, has investors and market observers focusing on this critical point. Bitcoin’s price recently experienced a significant drop, falling to $64,000. Falling below this level is associated with Bitcoin’s market value dropping below the “Realized Price” of short-term holders (STHs), an important on-chain metric. The Realized Price represents the average purchase cost of Bitcoin, indicating whether investors are currently in profit or loss.</p> 
<h2 style="text-align: justify" id="why-is-the-realized-price-important">Why is the Realized Price Important?</h2> 
<p style="text-align: justify">The Realized Price of short-term holders (STHs) represents the average purchase cost of investors who bought Bitcoin within the last 155 days. This group is extremely sensitive to market fluctuations and responds quickly to price movements.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-374019 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/07/btc-24.png" alt="" width="4000" height="2250"></p> 
<p style="text-align: justify">The chart shared by CryptoQuant community manager Maartunn shows that Bitcoin’s spot price has dropped to the STH Realized Price, highlighting this level as a critical point. Historically, this level is considered a transition point between bullish and bearish trends.</p> 
<h2 style="text-align: justify" id="the-boundary-between-bullish-and-bearish">The Boundary Between Bullish and Bearish</h2> 
<p style="text-align: justify">During bullish periods, when Bitcoin trades above the STH Realized Price, this level typically acts as support and is seen as a buying opportunity by investors. However, during bearish periods, this level becomes resistance, and STHs sell their assets at break-even prices to avoid further losses. This behavior underscores the psychological impact of the Realized Price on investor decisions and shapes market trends.</p> 
<p style="text-align: justify">Bitcoin is currently trading at approximately $67,000, having risen by 3.1% in the last 24 hours. This increase has once again highlighted the importance of the STH Realized Price level. It shows that investors were able to maintain the critical support at $64,000 during the decline, reaffirming bullish market sentiment.</p> 
<p style="text-align: justify">For investors, this increase may encourage further buying. Investors and market observers are closely monitoring the behavior of STHs at this critical level, knowing it will determine Bitcoin’s short-term price movement. As <strong>BTC</strong> navigates this volatile phase, the reactions of <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">short-term investors</a> will play a crucial role in determining the <a href="https://newslinker.co/what-are-the-future-technologies/" target="_blank" rel="noopener" data-wpel-link="exclude">future direction</a> of the cryptocurrency.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/bitcoin-tests-historical-support-level/" data-wpel-link="internal">Bitcoin Tests Historical Support Level</a></h5>
<p>The post <a href="https://en.coin-turk.com/bitcoin-tests-historical-support-level/" data-wpel-link="internal">Bitcoin Tests Historical Support Level</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.</p>

Bitcoin Tests Historical Support Level

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