$BTC Recovery and New Bull Trend (Early 2023 - June 2025): Since early 2023, Bitcoin has started to recover, gradually increasing its price. The "Bull" bars (purple) have begun to reappear and grow, indicating a return of bullish sentiment and accumulation. The Real STH Price also shows a clear upward trend, moving in line with the recovery of Bitcoin's price.

Real STH Price: This line generally acts as a support level during bull markets and resistance during bear markets. When Bitcoin's price is above the Real STH Price, short-term holders generally make profits. When below, they incur losses, which can lead to capitulation. In the current phase (June 2025), Bitcoin's price is significantly above the Real STH Price, indicating that short-term holders are making considerable profits.