However, the latest on-chain revelation suggests that the Bitcoin price is at risk of further downward pressure over the next few weeks. According to a prominent analyst on social media platform X, the market leader has fallen below a crucial level, which could trigger a further 10% price drawdown.
Kesmeci revealed that the Bitcoin price had previously fallen below the STH Realized Price three times so far during this bull run, which started in November 2022. According to the on-chain analyst, the market leader entered a consolidation phase when this happened the past three times.
Most recently, the market leader dipped almost 8% between February and April 2025 when the Bitcoin price fell below the STH Realized Price. Kesmeci highlighted that, on average, these consolidation phases lasted 77 days and each resulted in an almost 10% loss in BTC’s value.
Kesmeci concluded that the Bitcoin price could enter a consolidation/correction phase if it does close the week and perhaps the month beneath the STH Realized Price around $111,500. And if history does repeat itself, investors could see the market lose as much as 10% over the next two to three months.
As of this writing, the price of BTC stands at around $109,538, reflecting no significant change in the past 24 hours.
Featured image from iStock, chart from TradingView
