Bitcoin Approaches Key Support as Realized Price Metrics Signal Ongoing Accumulation

Despite a 10% pullback from its all-time high above $124,000, Bitcoin (BTC) remains structurally supported by rising realized price indicators, pointing to continued investor accumulation.

The next major level to watch is the Short-Term Holder Realized Price (STH RP), currently around $108,600. This metric tracks the average acquisition price of BTC moved in the past 155 days, offering insights into short-term investor sentiment and potential support zones.

Historically, Bitcoin has treated the STH RP as a key support level during bull markets, often dipping toward it during corrections of 20–30% before resuming upward momentum. Since February, BTC has consistently traded above this threshold. Notably, April’s retest near $76,000 coincided with macro pressure from newly announced tariffs by President Trump and ultimately marked the cycle low.

Meanwhile, Realized Price (RP) — the network-wide average acquisition cost — continues to climb steadily. Over the past week, both RP and STH RP have increased by more than 1%, signaling steady capital inflows and a rising investor cost basis.

This uptrend reinforces a crucial backdrop: while the market experiences near-term volatility, the broader accumulation trend remains intact. The increasing realized prices suggest investors are buying at higher levels, absorbing sell pressure and underpinning Bitcoin’s longer-term bullish structure.

As BTC approaches the STH RP near $108,600, traders are closely watching whether this historically reliable support level holds once again.