Bitcoin Under STH Realized Price: Is a 10% Dip Imminent?
Bitcoin Under STH Realized Price: Is a 10% Dip Imminent?
After an initial glimmer of hope for September, the Bitcoin price has largely returned to its starting point for the month. With the much-anticipated “Uptober” historically associated with bullish market movements now on the horizon, many investors are keenly watching for signs that the leading cryptocurrency might find renewed strength and embark on an upward trajectory in the coming weeks. However, recent developments in on-chain analytics suggest a more cautious outlook, indicating that Bitcoin could be susceptible to further downward pressure in the near term. A notable observation from prominent on-chain analyst Burak Kesmeci, shared on social media platform X, highlights a critical juncture for Bitcoin. The market leader has slipped below a significant support level, a move that historically has preceded a considerable price drawdown, potentially triggering a further 10% correction in its value. This analysis provides a compelling argument for investors to exercise prudence and c…