CAN $61.5K HOLD AS BITCOIN SUPPORT? 😨

Analysts are eyeing $61.5k as a potential support level for #Bitcoin , based on the Short-Term Holder (STH) Realized Price metric. This level is currently $5.09k below the price of $66.6k, a significant narrowing from the wider gap of $9k seen in early April.🩸

The STH Realized Price reflects the average price at which short-term holders (those holding for less than 6 months) acquired their $BTC . It's believed that these holders are more likely to sell during price drops, potentially creating support at this level.📉

Will $61.5k hold as strong support for #BTC ?