Our converter updates in real time giving you accurate data every time you use it to make a conversion. We can trade below it, but a swift recovery would be necessary to justify upwards continuation,” Checkmate commented. The PEPEMINER to BTC conversion rate today is 0.00000001809 BTC and has decreased by 13.15 in the last 24 hours. “In bull markets, this level ($26.5k) should offer sound psychological support. STH-MVRV is currently at 1.022, making a 1.0 reading equate to a BTC spot price of around $26,500.

When at 1.0, it corresponds to the STH realized price, which is the aggregate price at which STH coins last moved - their breakeven point. Buy Bitcoin, Ethereum, Cardano, Ripple, Chainlink, Tether, Terra, Solana. STH-MVRV measures the value of coins moved by STHs compared to those coins’ value as a portion of the overall Bitcoin market cap. View a list of Live Coin Watch integrations currently available and learn what. STH market value to realized value (STH-MVRV) Several metrics covering STH profitability are on the radar. “Bitcoin is currently at a decision point, with Short-Term Holders being the primary lens to view this correction,” he summarized. Struggling near key trend lines, BTCUSD is giving an increasing number of long-time market participants cold feet this month.Īs downside price predictions flow in, on-chain analysts’ attention increasingly focuses on short-term holders (STHs) when it comes to where the price might head next.Īs Cointelegraph reported, various metrics specifically covering STHs - defined as entities hodling coins for 155 days or less - are approaching “reset levels” after a period of exuberance.įor Checkmate, this could be a healthy retracement required for the continuation of the 2023 bull market but equally, things could now turn ugly. In findings uploaded to Twitter on May 26, Checkmate - lead on-chain analyst at Glassnode - revealed a BTC price showdown in the making.Īnalyst warns Bitcoin bulls “not doing anything”

Bitcoin BTCUSD has reached a “decision point” for price action, but speculators are in charge, says a new analysis.

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