As of June 24, 2024, Bitcoin (#BTC) is valued at $62.4K, slightly below the STH Realized Price of $62.7K. This indicates that most short-term holders (STH) who've held BTC for less than 155 days purchased at a higher price, suggesting potential selling pressure.

STHs from the past week to 1 month paid an average of $68.7K, potentially leading to selling pressure as they may seek to cut losses. Similarly, those from the 1-3 month period bought at $66.3K, presenting comparable risks. However, STHs from 3-6 months ago are better positioned, having bought at an average of $57.8K, which might encourage them to hold.

In contrast, long-term holders are in a strong position, with a 365-day SMA at $45.3K and an overall Realized Price of $30.6K, indicating solid support.

In conclusion, while there is a risk of short-term selling, long-term holders could limit significant downturns. If the price drops further, short-term holders may cease selling and hold, a pattern observed each time they are underwater. The Short-Term Holders Realized Price is a strong support in a bull market, and as long as prices hover around this level, there's no cause for alarm. The market is being closely monitored with a calm and optimistic outlook.