The Bitcoin price resumed its hot start to the new year this week, jumping above the $97,000 mark for the first time since November 2025. The flagship cryptocurrency reignited debates about the current phase of the market in its latest attempt\u00a0to reclaim its six-figure valuation.<\/p>\n
Having surpassed the previously formidable $94,000 technical level, the Bitcoin price seemed set to cross the $100,000 mark<\/a> again. However, recent on-chain evaluation has brought focus on an ongoing phenomenon among a specific set of investors in the market.<\/p>\n In a January 16 post on the X platform, pseudonymous crypto analyst Darkfost revealed<\/a> that the average realized price of the Bitcoin short-term holders (STHs) is another key level to watch. This price level represents the average price where the most recent (1-3 months) set of BTC investors acquired their coins.<\/p>\n According to data highlighted by Darkfost, this STH realized price currently sits at around $102,000, meaning that the majority of the Bitcoin short-term investors are at a loss. The market pundit noted that this particular evaluation is adjusted to account for the 800,000 BTC recently moved by Coinbase.<\/p>\n Darkfost noted that, as the Bitcoin price approached the realized price of the short-term holders, the investors are caught between two primary choices. It is either this group of investors holds and hopes for further upside, or they exit once they break even.<\/p>\n Given that they are the most reactive set of investors, the Bitcoin short-term holders have not hesitated in taking short-term profits, as indicated by the latest exchange inflows. Darkfost, however, noted that the STH realized price level will be crucial to watch<\/a> once all the profit-taking is done.<\/p>\n Darkfost said that the Bitcoin price trading below this cost basis historically represents a good accumulation opportunity. Nevertheless, the analyst warned that bear market periods should be excluded, as short-term holders tend to witness prolonged drawdowns and pain during this season.<\/p>\nBitcoin Price Action Could Hinge On STH Realized Price<\/h2>\n
STH Cost Basis Key For Momentum To Re-Accelerate<\/h2>\n