Bitcoin closed above $114,500 on a weekly basis, reclaiming the Short-Term Holder Realized Price near $113,000 for the first time in several weeks. This on-chain metric reflects the average acquisition cost of recent market participants and often marks a critical dividing line between bullish and bearish market phases. The reclaim follows weeks of heavy selling pressure and mixed sentiment.

Bitcoin has reclaimed the $115,000 level, with 83.6% of circulating supply now in profit, data show. The metric reflects improving sentiment as holders anticipate further gains, though analyst Darkfost cautions that historical patterns indicate corrections when profitability exceeds 95%. Bitcoin is testing critical resistance at $117,500, a level that previously rejected multiple breakout attempts.

Bitcoin's Short-Term Holder Spent Output Profit Ratio (STH-SOPR) declined to 0.992, its weakest reading since late April, data show. The metric tracks profitability for holders owning coins under 155 days. A reading below 1.0 indicates these investors are realizing losses, reflecting heightened capitulation among newer market participants.