The Bitcoin (BTC) market is currently experiencing significant changes in supply dynamics, with significant activity between long-term holders (LTHs) and short-term holders (STHs).
According to the latest analysis From CryptoQuant, historically, such changes often represent local market peaks or even cycle peaks, depending on the overall market environment and broader economic conditions.
Currently, short-term holders continue to play an important role in demand Supports the price of Bitcoin Stability amid ongoing market volatility.
Long-term holders Vs. Short term buyers
An analysis by cryptoquant analyst Darkfoist has revealed that short-term holders, particularly those who have acquired Bitcoin in recent months, are actively influencing market sentiment.
By analyzing empirical price data from different short-term acquisition periods, distinct support and resistance levels become apparent.
These actual value levels include $41,000 for the typical average realized price, $85,000 for short-term holders overall, $99,000 for holders within one week to one month, $81,000 for one to three months, and $60,000 for three to six months. are
According to Darkfost, these data indicate key psychological and technical price points where market participants can make important buy or sell decisions.
The analyst revealed that the short-term holding expense output profit ratio (STH SOPR) currently remains neutral at 1 after falling from Bitcoin’s last rally, which pushed its price to a The highest level of $108,000. The STH SOPR serves as a key benchmark to assess the profit-taking behavior of short-term holders.
A fair SOPR reflects this Recent sales activity Short-term holders have not been significantly profitable, reducing the incentive for extensive sell-offs at current price levels.
However, this neutral stance suggests potential key directions for an immediate bullish recovery. A decline in STH SOPR points to declining profitability, which may slow upward motion In the short term.
Despite these challenges, demand from short-term holders has managed to absorb the selling pressure from long-term holders, preventing sharp price declines. Darkfoist wrote:
Consequently, selling pressure from LTHs has so far been well absorbed by buying pressure from STHs. However, we note that the STH SOPR is declining, which may hinder an immediate rapid recovery. In the short term, there may be a period of consolidation or even a deep correction.
Bitcoin Market Performance and Outlook
Meanwhile, Bitcoin is currently trading at $97,357 after registering a modest gain of 1.1% in the previous day.
While this increase has helped BTC gain positive momentum in recent weeks, it has been insufficient to propel the cryptocurrency back up. Six-digit price tag Or is it the highest above $108,000.
Featured image created with DALL-E, chart from TradingView
