đšđ Bitcoin's price is slipping, and big money's not buying it - What's nextâïž
Bitcoin [BTC] just lost its footing again. Slipping below a key cost basis for short-term holders, the marketâs favorite Cryptocurrency is starting to look a little light on conviction. Behind the scenes? The big wallets have been unusually quiet, and that silence is saying a lot.
STH realized price breached â Can $99k hold the lineâïž
Bitcoin has dipped below the STH realised price at $99,000 , marking a potentially critical shift in market sentiment. This level represents the average acquisition cost for BTC bought within the last 155 days â A cohort that often fuels near-term momentum. Slipping beneath this threshold has usually aligned with periods of market weakness or reset. In fact, the latest chart from Alphractal highlighted the STH-MVRV ratio dipping close to 1 â A sign of reduced short-term profit margins.
If this zone fails to hold, we may be staring down a deeper correction before the next wave of conviction buyers step in. Old money stays on the sidelines Bitcoinâs OG whales, the ones who truly move markets â arenât biting yet. On-chain data revealed that transaction volumes exceeding $100,000 have been stuck in neutral territory, mimicking the same subdued activity last seen in 2020.
Unlike the 2021-2022 bull run, during which whale transfers spiked dramatically, the ongoing cycle lacks that telltale surge of conviction from legacy holders. Without their participation, Bitcoinâs latest move risks being built on thinner liquidity and weaker support. A tale of momentum and support.