According to @glassnode, XRP’s realized price is $1.48 (source: @glassnode). @glassnode notes the current market structure resembles February 2022, with 1W–1M participants accumulating below the 6M–12M cohort’s cost basis (source: @glassnode). As this structure persists, psychological pressure on prior top buyers builds, a setup traders monitor via realized price and cohort cost bases for risk control (source: @glassnode).

According to @glassnode, Long Term Holder Net Position Change is a net balance defined as coins maturing from Short Term Holders into LTH minus coins spent by LTHs. According to @glassnode, over the last 30 days LTHs spent about 370K BTC while roughly 226K BTC matured from STH to LTH, resulting in a net LTH supply decline of about 144K BTC that matches the reported Net Position Change. According to @glassnode, this shows net metrics can understate the true scale of LTH distribution when maturation is elevated. According to @glassnode, BTC traders should track gross LTH spending alongside STH to LTH maturation rather than relying only on the net change to better gauge distribution pressure.

According to glassnode, when the BTC spot price traded near 87.3K, its on-chain price models showed STH Cost Basis at 96.5K, Active Investors Mean at 87.5K, True Market Mean at 80.7K, and Realized Price at 56.0K; source: x.com/glassnode/status/2015510904897421641 and glassno.de/3XDy2xe. According to glassnode, with the BTC spot later near 97K, these levels shifted to STH Cost Basis 98.4K, Active Investors Mean 87.8K, True Market Mean 81.1K, and Realized Price 56.2K, implying short term holders remain under water while traders may watch resistance near the STH Cost Basis and potential supports around the True Market Mean and Realized Price; source: x.com/glassnode/status/2011861491188687173 and glassno.de/3XDy2xe.

According to @glassnode, Bitcoin’s attempt to move above the Short-Term Holder cost basis around $98.4K was capped by sell-side pressure from 3–6 month holders whose average cost basis is near $112.6K, as this cohort increased spending into the move and realized elevated losses, weighing on upside momentum. According to @glassnode, BTC is consolidating in a low-volume regime with easing spot pressure, light leverage, and volatility priced as short-lived rather than structural.