BTC: Short-Term Holder Cost Basis Distribution Heatmap
- This chart helps to clearly see where short-term holders bought in the most.
- Most STH are underwater, with a tendency to panic sell. This is a typical phase to purge weak hands.
Key support lies around 62-72k. If it holds and shows signs of on-chain accumulation, this could be the foundation for the next recovery. A deeper break will continue the washout.
Closely monitor STH Realized Price ~85k.
In addition, inflation remains persistent (PPI has surged recently), reducing expectations for monetary easing.
BTC's correlation with risk assets (S&P500) remains high → any hawkish signs from the Fed will also pressure prices.