$BTC Recovery and New Bull Trend (Early 2023 - June 2025): From early 2023 onwards, Bitcoin began a recovery, steadily increasing in price. The "Bull" (purple) bars started to re-emerge and grow, suggesting a return of bullish sentiment and accumulation. The STH Realized Price also showed a clear upward trend, moving in tandem with the Bitcoin price recovery.
STH Realized Price: This line generally acts as a support level during bull markets and resistance during bear markets. When Bitcoin's price is above the STH Realized Price, short-term holders are generally in profit. When it's below, they are in a loss, which can lead to capitulation. In the current phase (June 2025), the Bitcoin price is significantly above the STH Realized Price, indicating that short-term holders are in considerable profit.
