A "favorite" Bitcoin (BTC) cost point could exist about to turn bullish — and upside has always resulted, data shows.

Every bit noted past podcast host Preston Pysh on Oct. 18, the Long-Term & Brusque-Term Holder Realized Cost Ratio (LTHSTH-RPR) looks primed to impress a bull flag.

Chart hints at return of the bulls

It may sound wordy, but LTHSTH-RPR is 1 of the most authentic Bitcoin price indicators. Its creator, Bitcoin 2022 conference organizer Dylan LeClair, confirmed his own bullishness based on its readings in late September.

"TLDR: The lower the Curt-Term:Long-Term Realized Price Ratio goes the more bullish I will become," he wrote in an explanatory Twitter thread.

"In the end, all bears will dice."
Bitcoin LTHSTH-RPR chart. Source: Preston Pysh/Twitter

Now, with the indicator trending down for several months, it is high time for a rebirth — and BTC/USD has e'er benefited as a outcome.

Nether the hood, LTHSTH-RPR shows the price footing of long-term holders and short-term holders. A long-term holder is divers by on-concatenation analytics firm Glassnode as an address holdings coins that have not moved in at least 155 days.

"When the STH:LTH Realized Cost Ratio is increasing, this means that STH price basis is increasing relative to LTH toll basis, and vis versa," LeClair added.

"BTC rises when the marginal seller is exhausted. This is why you come across the cost basis of LTHs stay stagnant during explosive bull runs, while the cost basis of STHs (many of whom are new market participants) explode — there are just not enough coins to go effectually."

And so far, LTH price ground has not been eclipsed past STH cost basis — when this happens, the electric current downtrend should end.

"Up simply" remains the narrative

As Cointelegraph reported, LTHSTH-RPR is just one of a number of BTC price metrics to take buoyed the bulls in recent weeks.

Related: Best high weekly close — 5 things to picket in Bitcoin this week

Everything from on-chain metrics to network fundamentals and even pure math suggests that further upside is imminent for Bitcoin — widely expected from Q4 of the year later a halving issue.

Withal, analysts are already monitoring the market for an exit. The impact of this calendar week's exchange-traded fund launches is too not predictable to be a marketplace mover in the short term.