$BTC Price is locked in below 68.7K in the short term. Glassnode analysis says this is mainly short-term holders closing positions and getting out. Guys, isn’t this the classic “cutting losses” mindset? Seeing it drop, they want to get back to break even quickly—then, without realizing it, they keep pressing the price down. Looking at this chart, there’s nothing big going on in the near term. First, sit tight and wait—being a leek to eat the melon news. After the sentiment of these retail traders who bought to get back to even fades, then we’ll talk. Those rushing to bottom-fish are basically chopping themselves with a knife. (via cointelegraph)
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