Bitcoin's recent procedures led to great pressure on a certain group of investors. Long -term holders are Looks to relatively fine Through the recent procedures of the Bitcoin price, the participants in the short term, on the other hand, began to feel heat. Market data now indicates that this group may approach a surrender point, but the biggest image reveals a more complex story as in the short term in the short term Holders can still stick.
Short -term holders face losses, but stay within limits
Data on the series show that the short -term Bitcoin holders (STHS) have incurred $ 7 billion in the past thirty days. Her holders in the short term are BTC addresses for less than 155 days. This trend has been observed Through data from Glassnode's analysis platform, which indicated that the operation of the losses represents the most striking loss event in the current market cycle.
In addition to the achieved losses, unreasonable losses intensified, prompting many of the coins controlled by STH underwater. Glassnode's analysis indicates that these losses are close to the +2σ sill, a level that historically indicates Increased the risk of surrender.
image From x: Glassnode
Despite the escalating risk of surrender, history shows that bitcoin holders in the short term are not in the worst position they can. The current numbers remain much lower than 19.8 billion dollars and 20.7 billion dollars in the loss of loss during the 2021-2022 accident.
image From x: Glassnode
Although the losses are important, they are still in line with the patterns seen in the middle of previous corrections during the bull markets. This is related to technical expectations from the encryption analyst that Bitcoin It is still in the middle From its upward rotation.
Bitcoin Bull Pollen, ETF flow pressure pressure
Although Bitcoin may still be in the middle of the session, feelings indicators draw a compressed image, as the price decreased by 23 % of its highest level ever in January. Data from Cryptoquant It reveals that the Bitcoin Bull has decreased to 20, and it is its lowest point in two years. The main prices were only recovered when the bull score exceeds 60. This current low reading is a sign that the encryption market is still besieged in the event of uncertainty, as sellers currently exceed buyers and momentum.
image From x: Cryptoquant
One of the contributing factors was the continuous external flow of the circulating bitcoin boxes. Since February, more than $ 4.4 billion of investment funds in Bitcoin have decreased. These external flows added a weight to a vulnerable price structure after Bitcoin began to correct its highest level ever in January.
As such, short -term holders who entered near this high and were bankers in the continuous budget of most of the losses.
image From x: ali_charts
Despite the heavy outflows that have been set in the past few weeks, there are early signs that this trend may turn. Data from Sosovalue shows that ETF Spot behavior has turned last week, with consecutive days of net flows in Bitcoin's investment funds.
image From sosovalue
In particular, Bitcoin Spot investment funds have ended on a net $ 744.35 million, which put an end to five consecutive weeks of external flows. The return of this institutional interest It can be the first sign of The stability of positive bitcoin feelings.
At the time of writing this report, Bitcoin was trading at $ 84,815.
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