The recent price trend of Bitcoin shows a significant rise followed by a pullback, highlighting the importance of the statistical price range in understanding market dynamics. According to Glassnode data, the recent average entry price for buyers, i.e., the cost basis for short-term holders (STH), is currently $97,100. This level is a key support point, reflecting the holdings of most recent investors.
The +1 standard deviation range of $114,800 typically represents the threshold for overbought or bullish breakout, while the -1 standard deviation range of $83,200 signals an increase in downside risk. These ranges effectively construct a band within which Bitcoin's price is expected to fluctuate in the short term, providing traders and investors with actionable insights on momentum changes.
