True Market Mean and Short-Term Holder cost basis form a critical $78.2K to $79.2K range that could define the next major move
The True Market Mean filters out lost, dormant, and economically inactive coins, leaving only the cost basis of participants who are actually present in the market, making it a more precise gauge of where real selling pressure resides
Just above sits the Short-Term Holder realized price (STHRP) at $79,200, according to checkonchain. This cohort, defined as investors holding coins for fewer than 155 days, tends to be more reactive to price swings. With spot prices below their average entry, these participants remain at a slight loss. Bitcoin tested the STHRP in mid-January around $98,000 and got rejected
A sustained move above this zone could shift both levels into support, strengthening bullish momentum. Conversely, failure to reclaim them may prolong bitcoin’s consolidation phase, with potential downside