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Bitcoin dips below short-term holder realized price, sparking $60K fears.
Bitcoin recently fell below $64,000, breaking its short-term holder realized price and signaling a possible further decline to levels unseen in 49 days, according to cryptocurrency analysis firm CryptoQuant.
“Bitcoin is trading below the critical support level of $65.8K, now below $64K,” CryptoQuant wrote in a June 21 X post.
“Falling under this threshold suggests a potential 8%-12% correction toward $60K,” CryptoQuant added, a level not broken since May 3, when Bitcoin was trading at $59,122, according to CoinMarketCap data.
On June 22, Bitcoin's recent decline saw it drop 2% to $63,442, falling below the short-term holder realized price at the time, which was $64,230, according to LookIntoBitcoin data. Short-term holder realized price (STH-RP) is an important indicator for traders as it is the aggregate cost basis of more speculative Bitcoin hodlers — wallets storing Bitcoin for 155 days or less. 0 reply
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