Bitcoin drops below $29K as short-term holders panic sell at a loss

exchange68September 13, 2024

0 0 2 minutes read

In this Alpha article, we investigate the behavior of short-term Bitcoin holders and their impact on the market. Discover how these investors, who held the cryptocurrency for less than 155 days, bought at the local top only to sell at a loss. We reveal the role of Spent Output Profit Ratio (SOPR) in denoting Bitcoin bull markets and its significance to this cohort. But the most fascinating part is the recent dramatic change in short-term holder supply – one of the most notable shifts in the past year. What could this mean for Bitcoin’s future…?

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