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Bitcoin still has one more major hurdle before the market fully resets.
The Short-Term Holders (STH) Cost Basis sits at $109,800 .. the average price where recent buyers entered.
Historically: • Above STH Cost Basis → stability + stronger rallies
• Below it → selling pressure from short-term holders
So even after clearing the $108K supply zone, $BTC must reclaim $109.8K to flip sentiment and unlock real bullish momentum.
The chart makes it clear: this level is the key to the next leg up.