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  3. Bitcoin’s $80K Problem Ahead: Over Half Of Short-Term BTC Holders Are About To Hit A Profit Zone

Masalah Bitcoin $80,000 yang Akan Datang: Lebih Separuh Pemegang Bitcoin jangka pendek akan mencapai zon keuntungan

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  • L Luar talian
    L Luar talian
    lklol
    wrote on last edited by
    #1

    Key points:
    A Glassnode report stated that Bitcoin has recently reclaimed its ‘True Market Mean’ of around $78,100 for the first time since mid-January.
    The on-chain analysis firm noted short-term holders were booking $4.4 million of profit per hour, nearly three times the $1.5 million threshold that has “marked every local top year-to-date.”
    It said the short-term holder cost basis, currently around $80,100, is acting as the immediate resistance ceiling.
    Bitcoin (BTC) edged lower in morning trade on Thursday amid weakness in the broader market after the apex cryptocurrency crossed $79,000 in the previous session for the first time since January.

    According to a report by on-chain analysis firm Glassnode, the closer Bitcoin’s price gets to $80,000, the more the market begins to encounter distribution pressure from recent buyers. At the same time, realized profits are accelerating, with short-term holders booking $4.4 million per hour, nearly three times the $1.5 million threshold that has “marked every local top year-to-date.”

    Bitcoin’s price fell around 1% in the last 24 hours to roughly $77,400. Retail sentiment around the apex cryptocurrency on Stocktwits remained in ‘bullish’ territory, while chatter rose to ‘high’ from ‘normal’ levels over the past day.

    Bitcoin Resistance Builds Near $80,000

    Glassnode noted that the short-term holder cost basis currently stands at around $80,100, as the immediate resistance ceiling. This level is the average entry price for traders who bought Bitcoin within the past 155 days. Such short-term holders tend to be more sensitive to price moves than longer-term holders.

    The report said that a move toward $80,000 would push more than 54% of recent buyers into profit. The level that has historically coincided with the exhaustion of bear market rallies, Glassnode noted, adding that this marks the second time in the current cycle that Bitcoin has approached this threshold.

    It stated that as Bitcoin approaches the breakeven zone, the incentive to sell increases, creating natural resistance.

    However, Glassnode stated that Bitcoin recently reclaimed its ‘True Market Mean’ of around $78,100 for the first time since mid-January. This metric tracks the cost basis of actively traded supply and is often seen as a signal that the market is transitioning out of deeper bearish conditions.

    Bitcoin’s price remains nearly 40% below its record high of over $126,000 seen in October. It has gained nearly 9% over the past month, but has lost over 11% year-to-date.
    source: https://www.tradingview.com/news/stocktwits:1d388e52b094b:0/

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