CoinDesk reported that Bitcoin has broken through $78,000 after approximately 75 days of sideways movement, simultaneously testing two resistance levels. The first resistance level is the True Market Mean, currently located at $78,200. According to Checkonchain, this indicator represents the average purchase price of actual circulating supply, excluding lost or dormant coins, and shows the price range where real selling pressure is concentrated. The second resistance level is $79,200, which is the Short-Term Holder Realized Price (STHRP). Currently, the spot price is slightly below their average entry price, indicating a minor loss. In mid-January, Bitcoin also tested the STHRP near $98,000 but was pushed back by resistance. If this range is broken, both indicators will turn into support levels, gaining upward momentum, but failure could lead to prolonged sideways movement and open up the possibility of further declines.
