According to the onchain analysis platform Glassnode, Bitcoin short-term investors in profit are easing their sales activity. Bitcoin is slowly rising above its low local price of $112,000 as it continues to climb.
Profit-taking among Bitcoin Short-Term Holders (STH) — those holding for less than 155 days — has “cooled off,” Glassnode said Markets Report on Wednesday. The analysts firm stated that Bitcoin (BTCSTH spend volume (which measures the percentage of buyers who sold their Bitcoins in the last few months at a profit) has fallen to 45% below neutral.
Market in “relatively balanced position”
Glassnode’s figures indicate the market. “is in a relatively balanced position, with 70% of STH supply still held in profit, and an almost even split of profit and loss taking in coins which are on the move.”
“This is a level which aligns with the midline of prior bull phases, and is again not an atypical condition,” It added.
Participants in the market closely watch how Bitcoin STHs behave, because history shows that these STHs are more likely to be sold during volatile market periods.
Bitcoin dropped to $112 044 on the weekend. This is just two weeks after it reached new highs of 123, 100 on July 14. according Nansen. Bitcoin has traded at $114 766 as of the date of this publication.
Checkonchain, the Onchain Analytics Platform said In an X posting on Wednesday, the Bitcoin STH spent output profit ratio (SOPR), shows that recent buyers have sold more money than recent buyers with profits.
“Many recent top buyers and ‘Weaker’ hands are selling around their buy-in price and saying ‘get me out,'” Checkonchain said.
Bitcoin to remain a positive investment for the rest of 2025
“What we want to see from here is a short, sharp dip into red territory, resolving back to a healthy green number. This confirms the bull is still in play,” Checkonchain is added.
Related: Bitcoin supply shock to ‘uncork’ BTC price as OTC desks run dry
Bitcoin is still expected to perform well in the remainder of 2025, despite the recent drop.
Fundstrat Co-founder BitMine chairman Tom Lee said Bitcoin is expected to reach $250,000 by 2025 – despite some crypto analysts lowering their targets.
“I think Bitcoin should really build upon this 120 before the end of the year; 200,000, maybe, 250,” Lee spoke to Natalie Brunell, host of the Coin Stories Podcast on Tuesday.
Magazine: Crypto traders ‘fool themselves’ with price predictions: Peter Brandt
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Source: cointelegraph.com
