After War-Fueled Pullback, Bitcoin Stabilizes; $98.2K Becomes Line in the Sand for Bulls

Bitcoin Rebounds After Geopolitical Turbulence, Holds Strong Above Critical Support Level

Bitcoin faced a wave of volatility over the weekend as geopolitical tensions rippled through global markets, but the flagship cryptocurrency has managed to bounce back, maintaining vital support levels that point to continued investor confidence.

Currently, bitcoin’s short-term holder realized price (STH RP) stands at $98,200, based on data from Glassnode. This metric reflects the average on-chain acquisition cost for bitcoin held outside of exchange reserves and moved within the last 155 days.

STH RP is a significant measure derived from on-chain analytics, as it helps distinguish between short-term and long-term holders, offering insights into overall market sentiment. While realized price represents the average cost basis of the entire bitcoin supply, STH RP zeroes in on more recently transacted coins, which tend to be more reactive to market swings.

Geopolitical Tensions Stir Market Moves

Over the weekend, bitcoin prices dipped amid intensifying conflict between Israel and Iran and growing worries over potential escalation involving the United States. With traditional markets closed, some investors opted to liquidate bitcoin holdings—not necessarily as a strategic move, but to secure cash in uncertain conditions.

Historically, bitcoin trading above its STH RP has signaled bullish momentum, suggesting traders are holding at a profit and confidence remains strong. Conversely, trading below this level often aligns with bearish sentiment or periods of price consolidation.

A Look Back at Recent Trends

For instance, from June to October 2024, bitcoin traded below its STH RP, which hovered around $62,000, amid cautious sentiment leading up to the U.S. presidential election. Similarly, between February and April 2025, bitcoin again fell under its STH RP level, then around $92,000, reflecting broader market unease.

$98,200: A Key Level for Bitcoin Bulls

Despite recent turbulence, bitcoin has mounted a strong recovery, surging back above $100,000 and currently trading near $101,000. Maintaining levels above the $98,200 STH RP is critical for sustaining bullish momentum. Staying above this threshold indicates that short-term holders remain in profit, reducing the likelihood of widespread selling pressure and helping support further price advances.

While geopolitical risks linger, bitcoin’s resilience above key support levels suggests the broader bullish outlook remains intact, keeping traders cautiously optimistic for what lies ahead.