Over the past two weeks, the price of Bitcoin has been hot, leading to discussions about whether the leading cryptocurrency will return to the significant mark of $100,000. Interestingly, recent on-chain data suggests that the price $BTC could surpass this level and reach a new all-time high in the coming weeks.
In a post on X from April 26, popular crypto analyst Ali Martinez shared an exciting analysis and price forecast for Bitcoin over the next few weeks. According to the online expert, the flagship cryptocurrency could reach $131,800 if it remains above a critical support level.
This forecast is based on the short-term holder (STH) cost basis, which measures the average price at which recent investors—typically defined as wallets holding Bitcoin for less than 155 days—acquired their coins. This metric often provides insight into the sentiment of short-term investors and can act as relevant psychological support or resistance level.
When the price of Bitcoin exceeds the STH cost basis, it typically signals positive momentum among short-term market participants. On the other hand, a prolonged break below this metric can trigger increased selling pressure, as short-term holders are known for their speculative and reactive nature.
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