币安盘前市场上线red

After falling slightly to $80,000 for the first time since early November, the largest cryptocurrency has slightly recovered, with their apparent sell-off reversing the gains made after Donald Trump's election victory. Today's movements follow a period of several days during which short-term holders (STH) (defined as addresses holding Bitcoin for less than 155 days) repeatedly transferred large amounts of cryptocurrency to trading platforms. On Wednesday, up to 80,000 BTC was seen moving to exchanges through STHs, while yesterday's figure reached as high as 65,000 BTC. In contrast, the activity of long-term holders (LTH) has been much less, and since February 14, their total supply of Bitcoin has actually increased by 47,000. However, according to Youhodler's market director Ruslan Lienkha, LTHs have been 'partially selling' and taking profits since mid-December. This has actually been one of the factors preparing for short-term holders to sell off this week. He stated: 'As the main suppliers of cryptocurrency in the market, their activity has put selling pressure on BTC, preventing it from exceeding the $110,000 level.' Despite this, Lienkha confirmed that the recent Bybit hack and tariff issues have 'forced' short-term holders to liquidate their positions. He explained: 'At the $80,000 price level, we observed that a significant portion of short-term investors lost money in the market.' 'Historically, such capitulation events often mark a temporary stabilization phase in the market.' Other data available in the crypto space indicates that there are now 4.6 million Bitcoins at a loss, while the short-term holder MVRV (Market Value to Realized Value) ratio has dropped to 0.89. The equivalent figure for long-term holders is 3.59, with any reading of 1.0 or above indicating overall profit. Lienkha added: 'Long-term investors started accumulating assets before the election, with a significant portion still remaining in the profit zone at current price levels.' Other analysts confirmed that STHs have led or at least exacerbated the dump this week, with 10x Research CEO Markus Thielen telling Decrypt that many such holders jumped ship in the second half of January. He said: 'Recent data indicates that about 70% of Bitcoin (BTC) sales came from investors who bought at unfavorable levels over the past month, especially after President Donald Trump's inauguration on January 20, 2025.' These are investors now at a loss, but Thielen said we don’t necessarily need outdated timing to look for traders’ profits. He added: 'In contrast, those who acquired BTC when Trump was elected in November 2024 are still profiting and have not actively sold their holdings.' A revealing metric is the adjusted long-term holder to short-term holder ratio, which classifies LTH as any address holding BTC for between six months and three years, and STH as any address holding BTC for less than six months. This has dropped from 1.5 at the end of October to a three-and-a-half-year low of 0.90 on February 9, indicating that the short-term holder advantage may be volatile. Even after the fluctuations of the past few days, it remains at 0.92, while the STH MVRV has dropped to a six-month low, suggesting that things may worsen before they get better.

On the morning of February 28, 2025. Wall Street is stirred again due to Trump's strong stance on tax increases. The S&P 500 index plummeted by 1.59%, and the tech-heavy Nasdaq fell sharply by 2.78%. The decline in U.S. stocks quickly linked to the crypto market, with Bitcoin swiftly dropping from its peak of $87,000 on February 27 to today's $79,000, while altcoins have suffered a massive sell-off. Currently, the fear index has reached 10, and it is estimated that tomorrow it will be in single digits. A rebound is not far off; an intraday oversold rebound is expected, and it may be appropriate to consider some incremental buying. The long-term outlook remains intact, so stay confident.

The massacre that occurred last week was simply shocking, with meme coins taking the hardest hit. Recall that before Bybit was hacked, Trump's escalating trade war, and the overall market crash began to push it towards a low point, DOGE's price was above $0.26 last Friday.
A week later, the largest and oldest meme coin dropped to just above $0.18, peaking in its decline. This means it fell by 30% within the week. Additionally, since its peak of $0.44 in 2025, DOGE has dropped by 60%.
However, the asset did not spend much time below $0.19, actually managing to recover its losses within a few hours. This is significant because the support line at $0.19 has been described multiple times as critical for DOGE.

Last night, the price of Bitcoin suddenly plummeted by nearly 9%, throwing the entire cryptocurrency market into panic. This unexpected 'great earthquake in the crypto world' caught investors off guard and prompted the entire industry to reassess future directions. As a senior observer in the crypto space, I must say that although this crash is alarming, it also reveals another side of the market—opportunities and risks coexist.
Behind Bitcoin's Plunge: A 'Perfect Storm'
As the leader of cryptocurrencies, Bitcoin's every fluctuation affects the nerves of the entire market. This crash is clearly not due to a single factor, but the result of a 'perfect storm.'