🚨 Bitcoin Rollercoaster Alert! 🎢

Bitcoin traders are feeling the heat as BTC dipped below $70,000, triggering a frenzy among short-term holders (STHs). On Oct. 31, a whopping 54,352 BTC ($3.76 billion) was offloaded to exchanges, according to Glassnode.

STHs, known for their quick-trigger reactions, saw their profits vanish faster than Halloween candy. The STH spent output profit ratio (SOPR) dropped below 1.01, signaling panic selling.

But wait, there's more! Some analysts believe this dip mirrors past halving years, hinting at a potential rebound.

What do you think? Will BTC bounce back or dive deeper? Share your thoughts below! 💬

#Bitcoin #CryptoNews #MarketTrends