CryptoQuant analyst Axel Adler Jr. said Bitcoin short-term holders have largely returned to profit after BTC rose from about $63,000 to $77,000 over the past eight days. According to his post, the share of short-term holder supply in profit increased from 26.1% on Aug. 17 to 74.9%, indicating that most of this cohort is now back in the green. At the same time, the net realized profit and loss indicator for short-term holders moving coins to exchanges turned positive and reached +28,600 BTC as of Aug. 24, moving above the +25,000 BTC level. Adler said that if the indicator stays above +25,000 BTC while Bitcoin’s upside momentum starts to slow, the risk of concentrated selling by short-term holders would rise. He added that if the metric falls back toward zero while BTC holds steady, that would point to easing potential sell pressure.
CryptoQuant analyst Axel Adler Jr. said Bitcoin short-term holders have moved back into profit after BTC climbed from about $63,000 to $77,000 over the past eight days.
In his post, Adler said the share of short-term holder (STH) supply in profit rose from 26.1% on Aug. 17 to 74.9%. That suggests most short-term holders are once again holding profitable positions.
At the same time, the net realized profit and loss indicator for short-term holders sending coins to exchanges turned positive. As of Aug. 24, the metric had reached +28,600 BTC, breaking above the +25,000 BTC threshold.
Adler said that if the indicator remains above +25,000 BTC and BTC’s upward momentum begins to fade, the risk of concentrated selling from short-term holders would increase. If the metric drops back toward zero while Bitcoin’s price stays stable, he said, that would indicate that potential sell pressure is easing.
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