Bitcoin (BTC) has surged from around $108,000 on September 1 to above $115,000 at the time of writing – recording a gain of roughly 4% over the past two weeks. Fresh on-chain data indicates that Bitcoin could be poised for a new rally, which would propel it upwards to new all-time highs (ATH).
Bitcoin rises beyond mid-term holders’ realized price
CryptoQuant’s QuickTake: post By contributor ShayanMarkets. Bitcoin’s recent recovery from $107,000 into just above $114,000 lifted the digital currency over the Realized Prices of mid-term (3 to 6 months) investors.
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For the uninitiated, the mid-term holders’ Realized Price is the average acquisition cost of Bitcoin held by wallets that last moved their coins within the past 3–6 months. This pivotal level is often used as resistance or support, reflecting sentiments and possible sell pressures from this group.
ShayanMarkets estimates that the current Realized price for holders of mid-term contracts is around $114,000 BTC is now significantly above the level of $114,000, and it’s unlikely that there will be an immediate drop in price. The analyst said:
The confirmation of renewed confidence by mid-term traders would be confirmed if the breakout was firm and held above this level. It could serve as a launchpad for a second bullish leg, which may propel Bitcoin to all-time records. If you fail to maintain above $114K, it may cause sentiment to shift back to caution. It could also lead to deeper corrections.
BTC hits a bump on the road
Gaah is a CryptoQuant colleague who brought the attention of a short-term holders (STHs) spent output profit ratio (SOPR), which was normalized by a 30-day average. After four months in which the indicator was consistently above break-even, it now shows that STHs are selling at a loss.
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STHs who sell their BTCs at a losses are indicating a “momentary loss of confidence” The speculators are more likely to react quickly when the price changes. BTC’s price has increased from $60 to $125k in the last year. However, SOPR STH recorded declining peaks.
In the past, when a price surge was sharp, it would be accompanied with peaks within Extreme Greed, showing a high level of retail participation. The current market cycle, however, did not show any evidence of this dynamic, indicating that institutional investors were likely responsible for the price increase.
Gaah noted that, historically, tops of the markets have been only confirmed after SOPR-STH levels reach extreme greed levels, which has not happened in this current rally. Accordingly, long-term, the trend is still firm. And the recent realization of losses might just be temporary, healthy pullback.
Some analysts have said that caution Bitcoin is already close to its maximum for the current market cycle. Bitcoin may already be close to its peak for this market cycle. predict BTC could fall in September before it resumes its upward trajectory in Q4 of 2025.
Some analysts still disagree. forecast Bitcoin will reach as much as $150,000. BTC is currently trading at $115.050. That’s an increase of 0.7% within the last 24hours.
Charts from TradingView.com and CryptoQuant.com.
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Source: www.newsbtc.com
