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Bitcoin Approaching Key Bull Market Support Amid 10% Correction
Rising Realized Price metrics show investors continue to accumulate despite pullback.
Aug 20, 2025, 11:52 a.m.
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What to know:
- Bitcoin has corrected 10% from its peak, with support forming near $108,600 at the short-term holder realized price (STH RP).
- Both the realized price and STH RP have climbed over 1% in the past week, signaling sustained investor demand.
Bitcoin is down 10% from its all time high of just over $124,000, with the next level of support forming around $108,600, which is the short-term holder realized price (STH RP).
The STH RP, which reflects the average acquisition price of coins moved within the past 155 days, is a key metric for gauging near-term investor positioning.
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Bitcoin has historically treated the STH RP level as support during bull markets, often retesting it during corrections of 20% to 30% before resuming upward momentum.
Since February, BTC has consistently held above this level, with the most recent test in April marking the cycle low at $76,000, a move that coincided with market stress following the announcement of President Trump's new tariffs.
Realized Price (RP) itself, which reflects the average acquisition price across the entire coin supply, has also continued trending upwards. This increase, alongside the rise in STH RP, signals that investors are actively accumulating coins at progressively higher prices, reinforcing structural support for the market.
In fact, over the past seven days, both the RP and STH RP have risen by more than 1%, underscoring continued inflows and conviction among buyers.
These dynamics reflect an important backdrop for the current correction: while short-term volatility has pressured price action, the rising cost basis of investors suggests that new capital continues to enter the market at elevated levels, absorbing selling pressure and maintaining bitcoin’s longer-term bullish structure.
Read more: Bitcoin, Stocks Hit by $400B Liquidity Drain From U.S. Treasury Account, Not Jackson Hole: Analysts
AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
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Key bitcoin price levels to watch as downward pressure builds
As bitcoin remains in a downtrend, several technical and onchain levels stand out as critical areas of support.
What to know:
- The 100-week moving average at $87,145 remains the main line of defense.
- Below this, the cost basis of U.S. spot bitcoin ETF buyers at $84,099 has provided support during recent consolidation.
- A sustained break below $80,000 would likely open the door to a revisit of the April 2025 low near $76,000.
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