Murphy
Murphy|Aug 20, 2026 03:50
not to do anything more than three times? This is the third time BTC has challenged the Short Term Holder Average Cost Line (STH-RP) since entering a bear market in this cycle! We have mentioned many times in the past that STH-RP is the "bull bear boundary" in the eyes of many on chain analysts at home and abroad. The logic is that when approaching breakeven, it will inevitably trigger many short-term chips with insufficient confidence to accelerate their exit, so the entire bear market will be accompanied by a repeated process of "price approaching STH-RP, then retreating, approaching again, and retreating again". Until the last complete breakthrough, it means that the sellers are exhausted, and the breakeven line at this point can no longer stop the trend reversal. As the quote goes, 'If you can't do it once, then do it again!'! So, every time the BTC price reaches STH-RP, we must attach great importance to it! Because no one can guarantee that this will be the last signal to bid farewell to the bear market? Of course, there is also a possibility of false breakthroughs, especially in the early stages of a bear market where the probability of such a situation is higher, leading us to mistakenly believe that a "bull rally" is actually just a way to attract more investors. But we all know that this is definitely not the early stage of a bear market; This is the third time we have approached STH-RP, and they all say 'nothing is too bad', right? Please don't think I'm implying anything? I am making it clear! If this breakthrough ultimately fails, I personally believe that this is likely to be the last 'challenge failure'. oh By the way! Perhaps some friends are still waiting for the bear market bottom signal of "STH-RP<LTH-RP", after all, this signal has never been wrong in the past decade. However, based on current data, the 7-day change rate of STH-RP is -0.2%; And the daily change rate of LTH-RP7 is -0.8%; If this continues, STH-RP and LTH-RP will never intersect again. Do I really need to continue carving? It's still possible to make changes now .....
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