CryptoQuant: The metric for short-term BTC holders hints at growth potential up to $171,000.
A fresh chart from #CryptoQuant shows an important market indicator: STH Realized Price YoY (year-over-year change in the average price at which short-term holders purchased BTC).
Short-Term Holders (STH) are those who bought #BTC in the last 5 months. Their behavior typically not only determines short-term price fluctuations but also allows for market forecasts.
At previous peaks (March 2024 and January 2025), the annual growth of the average purchase price of short-term holders reached 165% and 144%, respectively. These peaks coincided with prices around $70,000 and $100,000 - after which active profit-taking began, and the price went down or into a range.
Currently, the annual growth is only 58.2%. This is significantly lower than previous peaks and indicates a slowdown in the influx of new buyers.
Why is this important? If we assume that the bull market continues, then for this metric to rise again to the level of the previous peak (around 140%), BTC must appreciate, according to analysts from #CryptoQuant, precisely to the mentioned $171,000. That is, it needs to almost double.
So far, this is just a possible scenario. However, the metric clearly shows how high BTC needs to rise to bring the price to a new peak of 'bullish excitement.' The room for growth is decent. This level, by the way, is close to the second neutral growth target in this cycle based on our forecast from November 11 last year - $168,108.
Let us remind you that the CEO of CryptoQuant, Ki Yong Joo, stated in mid-March that the bull market for BTC in this cycle has ended.
