Bitcoin Price Tests Key Support Level at $107,800

Bitcoin (BTC) is trading near $108,600 after recently falling from an all-time high of $124,000. This level has once again become an important barrier: similar resistance zones were already recorded in January, May and June. Therefore, the current price area is gaining strategic importance for short-term traders and long-term investors.

The Short-Term Holder Realized Price (STH RP) is currently the focus of attention, reflecting the average cost for short-term holders. According to the latest calculations, the total purchase price of STH is about $107,800, which is almost the same as the market price. This makes the level critical for maintaining balance.

An analysis of individual groups of holders shows that for investors with a 1-3 month horizon, the cost price is close to $112,600, while for those holding the asset from a week to a month, it is $116,400. At the same time, older positions (3-6 months) are fixed at an average of $93,400. Thus, the zone between $107,800 and $112,600 represents a dense cluster of positions, where the behavior of short-term participants can determine further dynamics.

“If the $107,800 level fails to hold, some investors will find themselves in the loss zone, which could trigger a chain reaction of position fixation and increase pressure on the market. In this case, the main technical reference point will be the $93,400 area, where the cost of earlier purchases and a potential support zone are located,” analysts said.

At the same time, the current situation does not yet look like the beginning of a large-scale trend reversal. Rather, the market has entered a consolidation phase after a sharp rise, and the outcome of the fight for support will determine the scenario for the coming weeks. Maintaining the $107,800 level will open the way to a retest of the $116,000–$124,000 zone. Investors are advised to approach the current stage with caution, given the high significance of the nearest levels.

Source: cryptonews.net