According to OnChain Analytics Platform GlassNode, profits from short-term holders of Bitcoin mitigated sales activity as the price of Bitcoin continued to slowly climb to a local low of $112,000.
Bitcoin Short-term Holders (STH) profit (people holding less than 155 days) “calm down”, GlassNode explain In Wednesday’s market report. Analytics companies explain Bitcoin (BTC) The amount spent by STH measures the recent purchaser’s share of profits from selling their bitcoins, which has dropped to 45% below neutral levels.
The market is in a “relatively balanced position”
The figures indicated by Glassnode show that the market is “in a relatively balanced position where 70% of the STH supply is still in profits, even almost distributing profits and losses in the moving coins.”
It added: “This is a level that coincides with the midline of the previous bull phase and is not an atypical condition.”
Market participants closely monitor Bitcoin STH behavior because history shows that it is easier for them to sell during market volatility.
It comes after Bitcoin fell to $112,044 on the weekend, weeks after reaching a new all-time high of $123,100 on July 14 according to To Nansen. At the time of publication, Bitcoin was trading at $114,766.
OnChain Analytics Platform Boarding Chain explain In Wednesday’s X post, the output margin (SOPR) of Bitcoin STH spending showed that recent buyers acquired nearly all-time highs at a loss, selling more than recent profit buyers.
“Many of the recent top buyers and ‘weakers’ hands are selling around their purchase price and saying ‘Let me go away.'” Checkonchain said.
Bitcoin Outlook Positive Remaining Time in 2025
“What we want to see from here is a short, sharp red territory, back to a healthy green number. This confirms that the bulls are still working,” Checkonchain added.
Related: As OTC tablecloths dry, Bitcoin supply shakes to “Uncork” BTC price
Despite the recent price drop, several crypto analysts remain optimistic about Bitcoin’s performance for the rest of 2025.
FundStrat Co-founder and Bittermin Chairman Tom Lee says While other crypto analysts have cautiously withdrawn their targets, Bitcoin could hit $250,000 in 2025.
“I think Bitcoin should really build on these 120 by the end of the year; maybe 250,” Lee told Natalie Brunel in Tuesday’s Coin Story podcast.
Magazine: Crypto Trader “fools himself” with price predictions: Peter Brandt
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.
