Key Insights:

• Bitcoin has seen a significant decline from its previous peak of $124,500, now varying around $110,000, dropping below the 1-month and 3-month realized prices. The 6-month realized price stands at $107,440, which serves as a crucial support level.
• Glassnode cautions that any potential recovery rallies may hit resistance as short-term holders attempt to exit at break-even prices. CoinDesk Research indicates that $108,500 and $100,000 are significant levels for market sentiment.

Current Trends:

Bitcoin remains in a correction phase following its all-time high, experiencing pressure as its realized price levels indicate challenges for recent investors. The 1-month and 3-month realized prices are at $115,300 and $113,700 respectively. However, the sustaining support at $107,440 becomes increasingly important as it suggests a psychological threshold for the currency on the market.

Additional Information:

Investors should monitor the realized price levels closely, as they play a critical role in shaping market psychology amidst the ongoing fluctuations in Bitcoin’s value.