#bitcoinshorttermholdersreach4.08mbtc đš BITCOINâS $74.9K DANGER ZONE: Will New Buyers. Panic Sell?
đ„ Bitcoinâs next step might depend on what new investors do.đ Short-term holders now own 4.08 million BTC, up about 422,000 BTC since July 29. They added around 154,000 BTC in October with many purchasing between $82K and $86K.
đ But there is a challenge: BTC near $80.6K gives these buyers a smaller profit cushion.
đ Two signs that traders need to pay attention to:
đ $74,900 cost basis: If Bitcoin drops below this number short-term holders could see a lot of losses which might lead to more selling. However a drop would not mean a crash automatically.
đ MVRV at 1.54: According to the data provided Bitcoins market value is still higher than its realized value. This means the overall market is making money not at the top of a cycle.
â ïž The trading situation: Staying above $82K could help Bitcoin try to recover. Falling below $74.9K could increase the risk of losses. Keep an eye on the price movement money coming into exchanges and updated on-chain data, for confirmation.
đMy view: Short-term changes can get more volatile when the overall market isn't too overpriced.
đ Will Bitcoin go back toward $86K. Check $75K first?
Personal opinion, not advice.
#BTC #crypto #Khan62 #cryptotrading $BTC $XRP $SOL
đ„ Bitcoinâs next step might depend on what new investors do.đ Short-term holders now own 4.08 million BTC, up about 422,000 BTC since July 29. They added around 154,000 BTC in October with many purchasing between $82K and $86K.
đ But there is a challenge: BTC near $80.6K gives these buyers a smaller profit cushion.
đ Two signs that traders need to pay attention to:
đ $74,900 cost basis: If Bitcoin drops below this number short-term holders could see a lot of losses which might lead to more selling. However a drop would not mean a crash automatically.
đ MVRV at 1.54: According to the data provided Bitcoins market value is still higher than its realized value. This means the overall market is making money not at the top of a cycle.
â ïž The trading situation: Staying above $82K could help Bitcoin try to recover. Falling below $74.9K could increase the risk of losses. Keep an eye on the price movement money coming into exchanges and updated on-chain data, for confirmation.
đMy view: Short-term changes can get more volatile when the overall market isn't too overpriced.
đ Will Bitcoin go back toward $86K. Check $75K first?
Personal opinion, not advice.
#BTC #crypto #Khan62 #cryptotrading $BTC $XRP $SOL