Bitcoin’s $124,000 level matches the +1 STD of short-term holder realized price, triggering a 4.5% pullback after a brief rally investor profit-taking.
Bitcoin’s surge to $136,000 reflected the +1 STD for sub–one-month holders, marking overbought conditions and signaling excessive sell-side pressure from entrenched positions.
The $113,000 +0.5 STD support zone drew buy interest during consolidation, while the $101,000 realized price base reinforced medium-term strong bullish conviction.
Bitcoin recently encountered a correction after touching $124,000. This price zone reflects a critical resistance based on on-chain short-term holder metrics.
Realized Price Model Offers Clear Market Structure
According to a post shared by Cryptoquant’s on-chain analyst Crazzyblockk, Bitcoin’s current market structure is closely tied to its Realized Price model. This metric analyzes cost basis levels for investor groups using standard deviation bands to identify zones of strong price reaction.
https://twitter.com/cryptoquant_com/status/1945406424579703034
The $124,000 zone aligns with the +1 standard deviation (STD) of the Short-Term Holder (STH) Realized Price. Investors holding Bitcoin for less than six months contributed to this local top, leading to a 4.5% pullback. The level typically signals short-term profit-taking and is historically associated with overextended conditions.
Another upper band, located at $136,000, represents the +1 STD for holders with less than one month of exposure. These aggressive buyers often drive prices into overheated territory, forming temporary peaks during sharp rallies.
Buyers Step In Around Cost Basis Support Zones
Support levels have now drawn attention from market participants. The $113,000 area, corresponding to the +0.5 STD above the STH Realized Price, functions as a dynamic support level during consolidation phases. Buyers frequently return to this zone, stabilizing short-term pullbacks.
At $111,000, on-chain data identifies the average entry price of the most recent monthly buyers. As Bitcoin retraces into this region, many recent entrants reach breakeven. This creates a psychological barrier where selling pressure reduces, helping to form a base.
Crucially, the $101,000 level stands as the STH Realized Price itself. This area forms the core support for Bitcoin’s bullish structure in the medium term. Sustaining price action above this level signals that short-term holders remain confident and willing to accumulate.
Traders Monitor Short-Term Price Reaction Zones
Market observers are now closely tracking these key levels. The Realized Price metric, enriched with standard deviation overlays, allows a granular look at how investor groups respond to price changes.
Short-term resistance levels remain active at $124,000 and $136,000, while the support bands between $101,000 and $113,000 are crucial for maintaining bullish momentum. Traders are positioning around these levels as Bitcoin recalibrates.
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