Bitcoin continues to trade under pressure near $110,000, down from its $124,500 all-time high, with realized price levels now shaping market psychology.
Glassnode’s latest report points to growing strain on short-term holders, as BTC has slipped below both the 1-month ($115,300) and 3-month ($113,700) realized prices. The 6-month average cost basis of $107,440 is serving as a crucial support zone.
“Any relief rally is therefore likely to encounter resistance, as short-term holders seek to exit at breakeven,” the firm wrote.
CoinDesk Research added that Bitcoin rebounded from the short-term holder realized price of $108,500 on Aug. 26, while the realized price of all 2025 buyers has now declined to just above $100,000, creating another critical psychological threshold.
