Bitcoin Short And Long-Term Holder Realized Prices Climb – Sign Of A Healthy Bull Market?

Bitcoin is approaching what many analysts believe to be the final and most explosive phase of this bull cycle. After a strong rally over the past two months, BTC is now consolidating just below the critical $112,000 resistance level—a key psychological and technical barrier that, once broken, could signal the start of a major breakout. Market momentum remains firmly in bullish territory, and the structure suggests that a sharp move could be imminent.

As price action tightens, on-chain data adds further support to the bullish thesis. According to insights from CryptoQuant, since Bitcoin reclaimed the $97,000 level, the average realized price for both short-term and long-term holders has begun to rise. This shift indicates renewed confidence across the board, with both newer entrants and seasoned investors increasing their cost basis, typically a sign of healthy accumulation during a bull market.

Rising realized prices suggest that participants are holding, not selling, and are positioning for continued upside. With volatility compressing and macro uncertainty still fueling the digital asset narrative, the setup points toward an impulsive move. If BTC can break above $112K with conviction, it may ignite the final leg of the bull run—and take the broader crypto market with it.

Bitcoin Data Supports Strong Market Dynamics

Bitcoin is currently trading slightly below its all-time high near $112,000, consolidating at elevated levels after an explosive multi-month rally, with the price holding strong above the $106K–$108K range. The coming days are shaping up to be a pivotal moment for confirming the continuation of the uptrend. A decisive breakout above $112K could propel BTC into price discovery mode, igniting a broader market rally and signaling the start of the final leg of the bull cycle.

However, macroeconomic conditions remain complex. Global tensions continue to mount as trade conflicts between the US and other major economies persist, while rising US Treasury yields signal deepening systemic stress across traditional markets. In this uncertain climate, Bitcoin is increasingly viewed as a macro hedge, drawing interest from both institutional and retail investors seeking protection from fiat debasement and monetary instability.

On-chain data further reinforces the bullish outlook. According to top analyst Axel Adler, since Bitcoin reclaimed the $97K level, the average realized price for both short-term and long-term holders has begun to rise. More notably, the 7-day change in the realized price for long-term holders has now reached its highest point in the current bull cycle. This increase signals that long-term participants are not only holding but accumulating at higher levels, a strong indicator of growing conviction and healthy market structure.

This behavior historically precedes major bullish moves, as it reflects confidence from experienced holders who typically lead cycle trends. As momentum builds and macro uncertainty favors hard assets, Bitcoin’s positioning just below ATHs suggests that a powerful continuation could be imminent. A confirmed breakout above $112K may mark the beginning of the next explosive phase.

BTC Price Action: Holding Strong Above $108K

Bitcoin is trading at $108,910 on the 4-hour chart, continuing to consolidate just below the $112,000 all-time high. The structure remains bullish, with BTC respecting higher lows and holding above key support levels. The 34 EMA ($108,819) and the 50 SMA ($108,824) are acting as immediate support, providing a critical zone to defend as momentum builds.

Despite several short-term pullbacks, BTC has remained resilient. Price has repeatedly tested the $109,300 resistance zone without a confirmed breakout, suggesting that a decisive move above this level could trigger a renewed bullish impulse. On the downside, the $103,600 level—marked by a strong horizontal support—remains the key to preserving the broader trend.

Volume remains moderate during this phase, indicating a market in wait-and-see mode. As long as Bitcoin stays above the cluster of short-term moving averages, the bulls maintain control. A clean break above $109,300, especially with volume, could lead to a quick retest of the $ 112,000 all-time high.

Featured image from Dall-E, chart from TradingView