Analyst: Short-term holders have been realizing losses for about nine consecutive months, $65,000 becomes a key short-term level for Bitcoin
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Analyst: Short-term holders have been realizing losses for about nine consecutive months, $65,000 becomes a key short-term level for Bitcoin
CryptoQuant analyst Darkfost stated that data shows short-term holders (holding positions for no more than 155 days) have currently been in a state of realized loss for about nine consecutive months, a characteristic typically closer to a bear market environment. According to estimates, the cost basis for short-term holders is approximately $68,800, so the overall situation still faces certain pressure. Currently, as Bitcoin attempts to hold above $65,000, short-term holders are estimated to still be selling at a loss of about 4%.
Navigating Web3 tides with focused insightsTechFlow News, July 23, CryptoQuant analyst Darkfost stated that data shows short-term holders (holding for no more than 155 days) have currently been in realized loss for approximately nine consecutive months, a characteristic typically closer to a bear market environment. According to estimates, the cost basis of short-term holders is approximately $68,800, therefore the overall situation still faces certain pressure. Currently, as Bitcoin attempts to hold above $65,000, short-term holders are expected to still be selling at a loss of approximately 4%.
Market views suggest that $65,000 is an important level that Bitcoin needs to reclaim in the short term, which will help improve market sentiment and boost short-term confidence.
