Short Term Holder momentum is weakening again.
The 30D Short Term Holder Net Position Change is now very close to negative territory, meaning STHs are no longer accumulating at the same pace they were 30 days ago. This can point to weaker buying pressure or a longer consolidation phase.
If the metric turns deeply negative, it can also precede faster downside moves, so Exchange Netflow becomes important here. For now, we are not seeing significant BTC inflows into exchanges, which keeps the signal relatively neutral.
Onchain usually starts showing these shifts before the market narrative catches up. Better to follow the data than turn bullish or bearish too early.
The 30D Short Term Holder Net Position Change is now very close to negative territory, meaning STHs are no longer accumulating at the same pace they were 30 days ago. This can point to weaker buying pressure or a longer consolidation phase.
If the metric turns deeply negative, it can also precede faster downside moves, so Exchange Netflow becomes important here. For now, we are not seeing significant BTC inflows into exchanges, which keeps the signal relatively neutral.
Onchain usually starts showing these shifts before the market narrative catches up. Better to follow the data than turn bullish or bearish too early.
