BTC Price Rise Could Be Capped As Short-Term Holders Demand Dips

IconCryptoNewsTerminal Staff19 Sep, 2024

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BTC Price Rise Could Be Capped As Short-Term Holders Demand Dips

Bitcoin (BTC) has seen a dip in demand from short-term holders, which could limit its price increase potential. According to CryptoQuant lead analyst Julio Moreno, BTC short-term holders' 30-day realized profit/loss has hit its lowest level since 2012. Meanwhile, long-term holders (those holding BTC for 155+ days) continue to accumulate their holdings. While long-term holder accumulation provides support for BTC's price, sustained demand from short-term holders is crucial for maintaining the uptrend.