Selling pressure has plunged! $BTC ’s “sell contract” has been torn up—is it still not too late to get in?
Guys, Glassnode has released a key data point: the share of BTC held by short-term holders that’s in profit has fallen from “almost everyone’s in the green” at the end of September to around 70% now.
What does that mean in plain English? Before, nearly everyone was making money, so even a small market wobble could trigger a stampede of profit-taking and send prices tumbling. Now some of those profits have been given back, and the folks who bought near the top are starting to sit tight instead of selling. The market’s biggest zone of selling pressure has temporarily eased.
For the bulls, the entry environment is definitely better than it was a month ago.
My take: easing selling pressure does NOT guarantee a rally! Just because people aren’t selling doesn’t mean anyone’s buying—it depends on whether real money flows in. As for trading, don’t see a bit of good news and immediately go all-in. Wait for the price to pull back to a key support level and hold before entering.
Be patient and wait for confirmation. Don’t blindly try to catch a falling knife.
#Strategy未购比特币斥资2.05亿美元回购STRC #BitMine增持10452枚ETH #韩国考虑对加密交易所征教育税 $ETH $ZEC
Guys, Glassnode has released a key data point: the share of BTC held by short-term holders that’s in profit has fallen from “almost everyone’s in the green” at the end of September to around 70% now.
What does that mean in plain English? Before, nearly everyone was making money, so even a small market wobble could trigger a stampede of profit-taking and send prices tumbling. Now some of those profits have been given back, and the folks who bought near the top are starting to sit tight instead of selling. The market’s biggest zone of selling pressure has temporarily eased.
For the bulls, the entry environment is definitely better than it was a month ago.
My take: easing selling pressure does NOT guarantee a rally! Just because people aren’t selling doesn’t mean anyone’s buying—it depends on whether real money flows in. As for trading, don’t see a bit of good news and immediately go all-in. Wait for the price to pull back to a key support level and hold before entering.
Be patient and wait for confirmation. Don’t blindly try to catch a falling knife.
#Strategy未购比特币斥资2.05亿美元回购STRC #BitMine增持10452枚ETH #韩国考虑对加密交易所征教育税 $ETH $ZEC
