๐จ BITCOIN SHORT TERM HOLDERS ARE STACKING! ๐
Bitcoin short-term holders have now reached 4.08M BTC, and honestly, this is something Iโm watching closely. Around 422K BTC has been added since the July 29 low, which tells me a serious amount of fresh liquidity has entered the market. #BitcoinShortTermHoldersReach4.08MBTC
What interests me most is where these buyers came in. A large portion appears to have accumulated around the $82Kโ$86K area, while the current STH cost basis is around $74.9K.
Personally, I donโt see this data as automatically bearish. Yes, short-term holders can create selling pressure if Bitcoin starts falling, but as long as BTC stays above their cost basis, I think this new supply can actually support the next move higher.
For me, $74.9K is the level Iโm watching. Lose it, and the picture could change quickly.
Bitcoin short-term holders have now reached 4.08M BTC, and honestly, this is something Iโm watching closely. Around 422K BTC has been added since the July 29 low, which tells me a serious amount of fresh liquidity has entered the market. #BitcoinShortTermHoldersReach4.08MBTC
What interests me most is where these buyers came in. A large portion appears to have accumulated around the $82Kโ$86K area, while the current STH cost basis is around $74.9K.
Personally, I donโt see this data as automatically bearish. Yes, short-term holders can create selling pressure if Bitcoin starts falling, but as long as BTC stays above their cost basis, I think this new supply can actually support the next move higher.
For me, $74.9K is the level Iโm watching. Lose it, and the picture could change quickly.