Tag: long-term holder distribution

The post Bitcocom. Bitcoin price poised for 6% surge amid a wide-market relief rally. BTC’s short-term investors have recorded massive unrealized losses amid the recent market downturn, signalling a risk of capitulation. Since October, an ascending support trendline has been bolstering the coin price as the defence line of the long-term uptrend The crypto market witnessed a slight slowdown in its prevailing correction trend as Bitcoin showed resilience above the $90,000 mark. In the daily chart, the coin price shows a long-tail rejecting candle at this support, signaling a potential relief rally ahead. However, a number of factors, including the ETF outflow, long-term holders selling, and short-term holders at capitulation, are contributing to overall bearish momentum in the market, which could renew bearish momentum. Bitcoin Price Enters Capitulation Window With STH Losses Bitcoin has lost 17% over the last week, from its high above $107,600 to about $89,200 as of November 19. The drop coincides with a marked change in institutional flows. Spot Bitcoin ETFs that were soaking up the supply for months drew outflows on most trading days last week, sending coins back into the open market. Corporate treasury programs that once announced huge purchases have gone quiet; several have gone quiet instead of adding to exposure. A single 8K corporate acquisition made headlines but pales in comparison to past purchases from the same companies, which were frequently for 20K+ BTC per transaction. On-chain metrics show heavier selling from old holders: Wallets dormant for at least five months transferred or spent more than 800, 000 BTC during the past 30 days-the quickest rate of long-term holder distribution this cycle. Short-term investors who purchased near the recent highs now sit on massive unrealized losses. The percentage of the holding period of coins less than 155 days underwater has hit levels previously registered at the.