BTC Bounces After War-Driven Dip, Eyes $98.2K as Key Bull Market Line

The short-term holder realized value (STH RP) for bitcoin

at present sits at $98,200, representing the common on-chain acquisition value for bitcoin {BTC} held outdoors of change reserves and moved inside the final 155 days.

This metric, derived utilizing on-chain heuristics, helps distinguish between quick and long-term holders and supplies perception into market sentiment, in response to Glassnode information.

Realized value refers back to the common acquisition value for your entire circulating bitcoin provide, based mostly on the final time every coin moved on-chain. STH RP narrows this all the way down to extra just lately lively cash, that are statistically extra prone to be spent. These are sometimes essentially the most delicate to market volatility.

Over the weekend, bitcoin dipped amid geopolitical tensions, pushed by escalating battle between Israel and Iran, and rising fears of escalation between U.S. and Iran. With conventional markets closed, traders responded by promoting liquid property like bitcoin not essentially out of need, however necessity.

Historically, when bitcoin trades above the STH RP, it usually alerts a bullish pattern. Conversely, buying and selling under the STH RP is usually related to bearish or consolidation phases.

For instance, from June to October 2024, forward of the U.S. presidential election, bitcoin remained under the STH RP which was round $62,000 on the time. Similarly, in February to April 2025, costs once more fell beneath this threshold which was round $92,000.

Bitcoin has rebounded strongly, climbing again above $100,000 and now buying and selling round $101,000. For bullish momentum to proceed, it is going to be essential for BTC to stay above the $98,200 STH RP degree.