Has Bitcoin Dropped Below STH’s Waistcoat Button? 📉💰

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The Bitcoin affair, much like a summer storm in the Russian steppes, has kept traders on edge over recent days, wavering between the figures of $106,000 and $108,000. In the grand tradition of market ballet, the digital currency performs an intricate dance of stability after yet another week of spirited volatility, which yielded nothing less than a 3.41% price waltz to the tune of losses.

Intriguing, is it not? Amidst this financial sonata, a curious on-chain signal flutters to life, hinting at bullish serenades on the horizon.

Cast your memory back to an October post by our esteemed market raconteur, Ali Martinez. Amidst the fluctuating price medley, Martinez observed that Bitcoin slipped agilely beneath the short-term holders’ realized price. A curious position indeed, and one that keenly suggests an opportune gathering, according to whispers of historical lore.

Pray, what might this so-called “STH realized price” be, you inquire? Picture if you will, an average price where short-term investors, akin to those who have enjoyed the currency no longer than 155 days, first embraced their coins. When this price is outpaced, it heralds the arrival of those poor, unsuspecting newcomers who find themselves in an underwater ballet, signaling what we might politely term ‘local capitulation’ twinned with momentary market fears.

According to Glassnode notes, rather elegantly shared by Martinez, it was on the 14th of October that Bitcoin gracefully descended below this important mark. Such occurrences often inspire temporary panic sell-offs; however, historical overtures suggest they also serve as a convivial invitation to those strategic enough to observe from the wings. Curiously, this event aligns with rebellious price rebounds, outperforming expectations in episodes past: May of 2023, then November of the same year, August of 2024, and May of 2025 each echoed this recovery narrative.

Martinez claims, with a dramatic flair, that such slips below the STH realized price could be a masterstroke for market accumulation, setting the stage for future exhilarating price ascensions. And yet, lo, the broader Bitcoin theater is primarily commanded by our stalwart long-term holders, who potentially seize this quiet moment to bolster their hoard, maintaining the resolute structure of their bullish realm.

Does the Bull Still Roam?

In more current announcements, Titan of Crypto, a figure known to us prior, robustly declares amidst pessimistic chatter that Bitcoin’s bullish pursuits are far from their twilight. With a nod to the 38.2% Fibonacci retracement level – a true pivot point in our current fiscal drama – Piggy of Crypto assures us that as long as the weekly candle remains defiantly above this mark, the bull march continues unfaltering.

At this point in our tale, Bitcoin stands dignified at $106,800, noting a diminutive 0.40% retreat in the past day, while the volume of daily trade wanes to a meek $39.3 billion, down by 61%.

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2025-10-19 11:30