Bitcoin Erases Most of New Year’s Gains Amid Short-Term Profit-Taking
Monday's plunge has erased almost all the gains the leading cryptocurrency had achieved in the new year.
Related News
Bitcoin has crashed to $58k, and on-chain data may suggest that profit-taking from short-term holders may be behind the event. On-Chain Data Shows Bitcoin Short-Term Holders Are Taking Profits As pointed out by an analyst in a CryptoQuant post, short-term holders seem to have started taking their profits. And the timing may suggest this to […]
After surging to as high as $20.9k, Bitcoin has today observed a slight decline back into the low $20k levels as a result of profit taking from short-term holders. Bitcoin Short-Term Holder SOPR Has Been Elevated Over The Past Two Days As pointed out by an analyst in a CryptoQuant post, the short-term holders seem to be using the latest price rise for profit taking. The relevant indicator here is the “Spent Output Profit Ratio” (SOPR), which tells us whether the average investor is selling Bitcoin at a profit or at a loss right now. When the value of this metric is greater than....
Bitcoin has shown some impressive strength above the $34,000 mark despite a high amount of profit-taking from short-term holders. Bitcoin Short-Term Holders Are Selling, While Long-Term Holders Are Still Quiet As explained by analyst James V. Straten in a new post on X, the short-term holders are currently participating in one of the strongest profit-taking events of the past couple of years. The “short-term holders” (STHs) here refer to all those Bitcoin investors who have been holding onto their coins since less than 155 days ago. This group comprises one of the two main....
Bitcoin price looks poised for more gains but upcoming market events could spur profit-taking ahead of the weekend. Bitcoin Price Key Highlights. Bitcoin price continues to push higher after signaling strong upside momentum. Price is testing the key resistance area around $1000 but has formed a bullish continuation pattern. Technical indicators are showing mixed signals but market catalysts suggest that profit-taking is possible. Technical Indicators Signals. The 100 SMA is above the longer-term 200 SMA on the short-term time frames so the path of least resistance is to the upside. On the....
On-chain data shows Bitcoin short-term holders are increasingly selling at a loss following the latest crash in the crypto’s price. Bitcoin Short-Term Holder SOPR Dips Further Below One As pointed out by an analyst in a CryptoQuant post, on-chain data shows that the STH SOPR has decreased to July levels, suggesting that short-term holders are increasingly realizing their losses. The Spent Output Profit Ratio, or “SOPR” in short, is a Bitcoin indicator that tells us whether investors are selling at a loss or a profit during a given period. The metric’s value is....