BTC at a Crossroads: $93,000 Support in Focus

This level, Ali suggests, acts as a major pivot for the asset’s short-term trajectory:

“Holding above it could fuel a move to $132,330, but losing it may trigger a correction toward $72,420.”

What is the STH Cost Basis?

The Short-Term Holder Cost Basis is the average acquisition price of BTC held by investors who have owned their coins for less than 155 days. It’s a popular on-chain metric that reflects short-term market sentiment and acts as a dynamic support/resistance line.

What the Chart Tells Us

The chart from Glassnode shows Bitcoin’s price moving between key euphoria and capitulation zones.

As of May 2, 2025, BTC is trading just below this pivotal level (~$90,951), hovering close to a decision point that could dictate whether we enter a new bullish leg or suffer a significant pullback.

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Why This Matters Now

Bitcoin’s current range-bound behavior is deceiving — beneath the surface, metrics like STH Cost Basis are hinting at possible large-scale shifts in market structure. If bulls manage to reclaim and hold $93,460, it could trigger renewed momentum and a push toward $130K+ territory.

Conversely, a breakdown could awaken dormant bearish pressure, targeting a steep correction into the $70K range.

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