BTC Short-Term Holders Feeling FOMO, Confidence Will Take Time to Build
CryptoNewsTerminal Staff17 May, 2024
BTC Short-Term Holders Feeling FOMO, Confidence Will Take Time to Build
CryptoQuant contributor and Vietnam community manager Binhdang recently analyzed the market, highlighting that Bitcoin (BTC) will likely need more time to gather new momentum. Binhdang observed a surge in profit-taking among short-term holders of BTC, indicating that many investors are experiencing FOMO (Fear of Missing Out). This trend suggests that it may take some time for new investors to gain confidence and enter the market. Short-term holders are typically more reactive to market fluctuations and may be more likely to sell their holdings in response to short-term price movements. The increase in profit-taking among this group suggests that many investors are eager to secure their gains, potentially contributing to the recent market downturn.
