Most BTC holders are not under selling pressure, but new buyers anxious

Short-term BTC buyers are feeling selling pressure, potentially leading to a ￰0￱ like that can cause short-term volatility, eventually setting up the market for new ￰1￱ short-term holders felt the pinch of the current ￰2￱ latest cohorts of buyers are not necessarily panic-selling, but their pressure point is above $111,000. The recent dip of BTC to $109,000 set up conditions for a minor ￰3￱ on Glassnode data , the Net Unrealized Profit/Loss (NUPL) index for short-term buyers has shifted to a small loss, suggesting some traders may decide to sell and eventually buy ￰4￱ the past months, steep drops in the NUPL metric coincided with a market local bottom, usually preceding a recovery following the redistribution of ￰5￱ continues to go through a cycle with 25% drawdowns and fewer capitulation events on the spot ￰6￱ crypto fear and greed index is at 50 points and is neutral after a few days of fearful trading.

However, the index shows the attitude of derivative traders, while holders show more ￰7￱ BTC holders ready to capitulate? Despite the NUPL metric turning worse for the latest buyers, in general, BTC holders are very far from ￰8￱ Cryptopolitan previously reported , the current market cycle has spent more than a year without a big capitulation event, only with short-term liquidations and deleveraging. Short-term BTC buyers may be underwater, but on average, holders are not feeling anxiety and are in the money. |