Early signals of the bulls-bears shift—does it look like it’s starting to appear?!
Recently, NRPL-STH has begun increasing noticeably.
You might be wondering: why would “STH” (short-term holders) start realizing profits, yet that be a sign that the market is strengthening?
We all know that STH are typically the group most sensitive to price.
When the market has just emerged from a long-term bear market, as soon as this group sees gains, they’ll start taking profits in large quantities.
If the backdrop is still a bear market, the price can easily weaken again due to this wave of selling pressure; but if at this time the price can still keep trending higher, it means the demand side has already undergone a fundamental change—the market has shifted to being buyer-dominant, entering a positive feedback loop of “profit realization + capital inflow.”
In plain terms, these STH coins are just being “wiped out and shaken off” early.
Next, besides watching the strength of spot buying power (such as ETF flows and stablecoin issuance), everyone can also keep an eye on whether NRPL-STH can continue to strengthen:
As long as the STH selling pressure can keep getting absorbed by the market, that $BTC price still has momentum to move higher.
Let’s keep watching...
Recently, NRPL-STH has begun increasing noticeably.
You might be wondering: why would “STH” (short-term holders) start realizing profits, yet that be a sign that the market is strengthening?
We all know that STH are typically the group most sensitive to price.
When the market has just emerged from a long-term bear market, as soon as this group sees gains, they’ll start taking profits in large quantities.
If the backdrop is still a bear market, the price can easily weaken again due to this wave of selling pressure; but if at this time the price can still keep trending higher, it means the demand side has already undergone a fundamental change—the market has shifted to being buyer-dominant, entering a positive feedback loop of “profit realization + capital inflow.”
In plain terms, these STH coins are just being “wiped out and shaken off” early.
Next, besides watching the strength of spot buying power (such as ETF flows and stablecoin issuance), everyone can also keep an eye on whether NRPL-STH can continue to strengthen:
As long as the STH selling pressure can keep getting absorbed by the market, that $BTC price still has momentum to move higher.
Let’s keep watching...
