According to crypto analyst Ali, Bitcoin is at a critical crossroads — with a key technical level set at $93,460, based on the Short-Term Holder (STH) Cost Basis, a Glassnode-provided metric that tracks the average purchase price of Bitcoin held by short-term investors.
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.
- STH Cost Basis: $93,460
- Upside Target: $132,330 (if support holds)
- Downside Risk: $72,420 (if support breaks)
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.
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.
Kosta Gushterov
Reporter at Coindoo
Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a “detective-like” mindset. He not only covers a wide range of trending topics, he also creates reviews, PR articles and educational content. His work has also been referenced by other news outlets.
Source: https://coindoo.com/btc-at-a-crossroads-93000-support-in-focus/