Will Bitcoin repeat last October’s rally? Short-term holders face critical juncture

Short-term holders (STH) of Bitcoin are under pressure, with the average STH Realized Price standing at $62,430 compared to Bitcoin's current market price of $56,500. Historically, Bitcoin's price has seen significant drops below the STH cost basis, like it did in August 2023 when it fell to $28,000 before bouncing back two months later. If this pattern were to repeat in 2024, could investors expect a similar recovery? Given that STH holders currently possess nearly 2.5 million BTC at a loss, the market is on edge. Will the prices rebound in October or...

To access this insight, connect your Solana wallet or learn more about CryptoSlate Alpha.