Bitcoin Is Now Facing “Historical Recovery Barrier” Amid Heightened Market Churn
Bitcoin faces a historical recovery barrier near $108,500 due to increased short-term holder activity and market churn.Summary
Bitcoin's price has struggled since late October, showing weakness despite attempts to recover, defined by rising volatility and a lack of clear direction. On-chain indicators, specifically the Short-Term Holder to Long-Term Holder (STH/LTH) Supply Ratio rising to 18.3%, suggest elevated speculative activity and increased market churn as traders rapidly shift between profit-taking and accumulation. According to the Supply Quantiles Cost Basis model, Bitcoin is consolidating around $106,200, but faces a significant resistance level at the 85th percentile cost basis of $108,500, which has historically capped recoveries. Currently trading at $103,922, Bitcoin must break past $105,000 and successfully flip the $108,000 resistance to signal a significant recovery from the recent downtrend.
(Source：BeInCrypto)