Crypto analyst Murphy (@Murphychen888) stated via X that the STH-RP (Short-Term Holder Realized Price) around $70,000 is a key turning point separating bullish and bearish trends, and analyzed that a breakthrough of 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, and explained that "$64,000-$68,000 is the range where the average purchase price of short-term holders is formed, and during this process, selling pressure from investors in loss areas is likely to emerge, leading to a repeat of the 'breakthrough → resistance → correction → re-breakthrough' pattern." Meanwhile, he added, "This rebound is likely to remain a weak rebound at the $64,000-$68,000 level. Only if it surpasses $70,000 can it be considered a strong rebound."
