Bitcoin Price Stagnates Around $84,000 Amid Weak Buying Momentum

Bitcoin is currently priced at $84,449, down 0.7% over the last 24 hours, after previously rebounding above $84,000. The asset faces resistance, indicating weak buying momentum and cautious sentiment among traders.

Market Indicators

The STH Spent Output Profit Ratio (STH-SOPR) is below 1.0, suggesting many short-term holders are selling at a loss, often associated with capitulation phases.
The STH Realized Price stands at approximately $92,000. Trading below this level may indicate undervaluation based on recent buyer activity.
Historically, periods where the price dips below the realized price have coincided with long-term accumulation opportunities during previous bullish phases.
Current market conditions reflect pressure on short-term participants while long-term holders remain steady.

The analyst recommends a hedged strategy: accumulating in spot markets while maintaining short positions in derivatives to mitigate downside risk. Improvement in macroeconomic conditions could enable Bitcoin to resume its upward trend, though patience and risk management are advised until clearer signals emerge.