Cryptocurrency analyst Murphy (@Murphychen888) stated via X that the Short-Term Holder Realized Price (STH-RP) around $70,000 is a critical turning point separating bullish and bearish trends, and that breaking this level could increase the possibility of a trend reversal. He set BTC's short-term rebound targets at $64,000, $68,000, and $70,000, explaining, "The $64,000-$68,000 range is where the average purchase price of short-term holders is formed. During this process, selling pressure from investors in loss-making positions is likely to emerge, and a 'breakout → resistance → correction → re-breakout' pattern is likely to repeat." Meanwhile, he added, "This rebound is likely to be a weak rebound, limited to the $64,000-$68,000 level. Only if it surpasses $70,000 can it be considered a strong rebound."
