Key points:
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Short-term Bitcoin holders have achieved $11.6 billion in profits over the past 30 days, indicating a potential pause in the market or a local top.
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Technical indicators show cooling momentum as retail investor sentiment drops to 90-day lows, liquidity data points to price fluctuations.
Bitcoin (BTC) Prices recently hit a new all-time high of $111,800, but bullish momentum may slow down as GlassNode’s OnChain data reveals huge profits for short-term holders (STH), which could indicate the market’s “respirators”.
Glass node analyze It shows that STH is often seen as a trader rather than a long-term investor, achieving an astonishing $11.6 billion in profits over the past 30 days. This is after a sharp rebound in Bitcoin’s price, surpassing the STH cost base of $93,000. The peak of profits was $747 million a day, a rapid increase from $1.2 billion in the past 30 days, highlighting the shift in new investor sentiment.
STH realizes that the profit/loss ratio has soared, and profits are now significantly outstripping the loss, with only 8% of trading dates already seeing a higher level of this ratio.
This profit level is typical during bullish trends, but is usually the top spot in the local market. Too much profit may overwhelm new demand, creating overhead resistance and stopping Bitcoin’s upward trajectory.
Crypto Analyst Axel Adler JR Famous The Bitcoin 30-day price momentum has slowed by 38% to currently 19%. Adler describes it as a “technical cooling” after the recent peak. The Bitcoin researcher suggested that the market needs to “gasp” before resuming the rally.
Similarly, Hyblock Capital’s analysis proposes a cautious attitude as the first three months outline Bitcoin’s consistently targets the short liquidity zones above the above prices, which drives its recent highs.
However, retail sentiment was a 90-day low, with only 31.59% of retail accounts holding longer positions. Meanwhile, open interest is in the 90-day high order book, at the 91st percentile, indicating high liquidity and potential volatility.
Related: US Bitcoin ETF approaches record month after $1.5B inflow in 2 days
Bitcoin open interest fell by $1.2 billion as BTC fell below $110,000
Bitcoin’s decline dropped sharply, from $111,300 before the New York Fair opened on May 23 to $108,000. U.S. President Donald Trump announced 50% tariffs on EU imports, triggering a price dump starting June 1, 2025, which has sparked uncertainty in global markets.
The price plunge has resulted in a sharp drop in the $1.2 billion opening of Bitcoin positions, indicating a wave when traders reduce futures exposure.
🚨latest: #bitcoin Open interest shows $1.2 billion in positions. $ btc The decline was below $110,000. pic.twitter.com/0ee46bihgd
– Cointelegraph Markets & Research (@cointelegraphmt) May 23, 2025
Despite initial sell-off, Bitcoin rebounded at $109,000, with speculators rejecting the sell-off period. About current market trends, crypto trader honey Pointed this Any corrections could be a potential purchase opportunity. The trader said,
“As we expected, now that the Golden Cross has happened on BTC, we usually see a pullback across the market, so I’m going to be cautious here. The dipping sauce is for buying.”
Related: Bitcoin price drops 4% as Trump EU tariff talks sales exceed $300 million
This article does not contain investment advice or advice. Every investment and trading move involves risks and readers should conduct their own research when making decisions.
