According to CryptoQuant analyst Crypto Dan, Bitcoin’s short-term holder realised price at $93,000 has been identified as a critical upside threshold, with BTC currently trading above $82,000 following record April ETF inflows of $2.44 billion. The short-term holder realised price represents the average cost basis of coins last moved between six and 12 months ago, functioning as a behavioural boundary in Bitcoin’s market structure. When spot price trades below this level, recent buyers are collectively underwater, creating selling pressure that caps upside potential. If Bitcoin can sustain a move above $93,000, analysts suggest the path toward $100,000 would reopen with a stronger structural foundation.
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