Bitcoin Short-Term Holders Decrease Holdings Amid Price Cool-Off
Bitcoin's price is currently about 4% below its recent all-time high, entering a cool-off period after a strong performance. On-chain data indicates that short-term holders are distributing their holdings, which may signal the nearing end of the current bull cycle.
Potential for Price Correction
- Short-term holders are offloading Bitcoin as prices rise, reflecting typical market behavior near cycle tops.
- The indicator tracking supply held by short-term holders shows a decline over the past weeks.
- The realized price for short-term holders is $94,500, serving as a support level.
- Long-term holders have a realized price around $33,000, indicating differing strategies between investor groups.
- Despite ongoing distribution, Bitcoin reached new highs in 2021, suggesting room for further upside before a potential correction post-October 2025.
Current Bitcoin Metrics
BTC is priced just under $109,000, with a 0.4% increase in the last 24 hours and over 5% growth in the past week.
