đ¨URGENT: Bitcoin Price CORRECTION on the way?
New data suggests Bitcoin long-term hodlers (LTHs) are dialing back their exposure while short-term holders (STHs) are boosting their positions, potentially signaling incoming volatility for BTC price.
- $6 Billion Drop in LTH Exposure: CryptoQuant data reveals a sharp $6 billion decrease in Bitcoinâs realized cap for long-term hodlers. This indicates seasoned BTC holders are likely taking profits as Bitcoin approaches key levels, going into a risk-off mode.
- STHs Taking More Risk: On the flip side, short-term holders are getting more confident, with the realized cap for STHs increasing by $6 billion. This suggests newer market participants are stepping in aggressively, either betting on a bullish breakout or capitalizing on market momentum.
- Realized Price Interaction: One key level to watch is Bitcoinâs realized price for coins moved between 1 day to 1 week ago, which sits around $62,080ânearly identical to Bitcoinâs current spot price. The multiple interactions between the spot price and this level could imply momentum is weakening as Bitcoin struggles to hold above.
Price Correction on the Horizon? These price rejections around the realized price hint at potential short-term corrections, signaling possible selling pressure as Bitcoin hodlers take profits while speculators push the market. With speculators stepping up, but long-term hodlers becoming more cautious, the market could face a momentum shift.
Will Bitcoin skyrocket or CRASH?
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