Bitcoin Flashing Red: Could BTC Fall Back to the $37K LTH Zone?

Bitcoin is trading around $109,000 with modest movement over the last ￰0￱ weekly chart still shows a broader pullback, and recent data points suggest pressure may ￰1￱ are watching historical support levels, especially those tied to on-chain cost ￰2￱ Price Levels Come Into Focus Bitcoin has slipped below the short-term holder (STH) realized price, which stands at $113,250. Long-term holder (LTH) realized price is much lower, near $36,910. In past cycles, when BTC lost the STH level, it often moved down toward the LTH ￰3￱ pattern has shown up during large ￰4￱ Martinez noted, Historically, when Bitcoin $BTC breaks below the STH Realized Price, it tends to fall under the LTH Realized Price too, now sitting at $37,000.

pic. twitter. com/HM4RuypxXp — Ali (@ali_charts) October 23, 2025 While BTC is still far above the $37K range, traders are tracking this area as a possible target if selling ￰5￱ far, there is no indication that the LTH zone is under threat, but the setup matches earlier downside ￰6￱ Selling on Binance Rises CryptoQuant data shows a rise in selling activity from retail ￰7￱ October 22, about 13,000 BTC were sold on Binance—worth around $1.4 ￰8￱ marked the second big wave in one week, following a similar event on October ￰9￱ Taha wrote , “This marks the second major selling wave in a week.” The STH realized cap, which reflects the value held by short-term holders, fell from $15.2B to $2.2B in eight ￰10￱ signals that many exited their positions, locking in losses or shifting ￰11￱ the same time, long-term wallets appeared to be increasing holdings, a pattern seen often during retail-driven ￰12￱ Demand Zone Holds Steady Bitcoin is still trading above a long-standing support zone between $108K and $110K.

This level has served as a base in previous market ￰13￱ 21-week EMA is sitting near the same range, which may be adding to the current ￰14￱ the daily chart, the price is showing early signs of building a higher low, marked by a rising line from recent ￰15￱ Capital said this is only a “ very initial ” development. A firm move back above $114K is needed to shift ￰16￱ now, BTC remains ￰17￱ Watching CPI and Macro News Short-term moves may depend on upcoming ￰18￱ said , “If CPI comes higher than expected, expect more pain ahead.” A softer inflation reading could help risk markets. Elsewhere, technical traders noted a bullish divergence and a golden cross on the 12-hour ￰19￱ is still holding the lower end of its recent range after rejection near $114,500.

Meanwhile, some large BTC holders are moving funds into spot ETFs, seeking better access to traditional finance while avoiding taxable ￰20￱ at VanEck called this part of a “ liquidity-driven mid-cycle reset ” in a recent note.