Bitcoin ($BTC ) may see a break from the selling pressure as traders' profit margins have reached "basically zero". In an analysis uploaded to the
Bitcoin and crypto traders have been punished by declines in the BTC price, but a significant reset is about to begin. According to CryptoQuant data, traders have also returned to the balance point of exchange assets at $60,000.
“Selling pressure from Bitcoin may be waning as traders' unrealized profit margins are now essentially zero,” Moreno summarized.
This was supported by a chart showing the profit/loss situation for short-term holders (STHs) – assets that have held Bitcoin for 155 days or less. These speculators may have effectively exhausted their profitable trades, suggesting that selling may now taper off to avoid realizing losses.
“Traders realized price (pink line) has acted as support for prices during a bull market and is now at $60K,” Moreno said.
Returns to Bitcoin's realized price have often marked bottoms, and this trend line has supported the market almost continuously since the end of the 2022 bear market.
