BTC Long-Term Holder Sell Pressure Eases: Short-Term Holder Moves Crucial

BTC Long-Term Holder Sell Pressure Eases: Short-Term Holder Moves Crucial

Bitcoin Market Update: Long-Term Holder Selling Pressure Wanes According to Bitfinex's 'Bitfinex Alpha' report, the Bitcoin market's overall selling pressure has subsided since last weekend. However, external news and market conditions continue to influence sentiment. The market is currently seeking a supply-demand balance, making the actions of short-term holders even more critical. While the recent weekend recovery indicates a potential reversal, historical trends suggest caution as mid-week reversals have often offset such gains. Therefore, market action early this week will be crucial in determining if the downtrend has truly ended. Long-Term Holders Reduce Selling Positively, long-term holder (LTH) selling pressure appears to have diminished. LTH holdings have significantly declined, from 16.2 million BTC on January 1st to 14.8 million BTC, suggesting a reduction in profit-taking sales. Short-Term Holders Hold the Key In contrast, short-term holder (STH) supply has been steadily increasing since the start of the year, pressuring the market. As such, the trading decisions of short-term holders are likely to play a significant role in determining BTC's price trajectory in the near term.