Bitcoin Nears Potential Turning Point, Says Glassnode

Glassnode, a cryptocurrency analytics firm, is signaling a potential shift in the Bitcoin market. Their analysis focuses on two key investor groups: short-term holders (STHs) and long-term holders (LTHs).

Short-Term Holders: A Key Indicator?

Glassnode is closely monitoring the average price at which STHs (those holding Bitcoin for less than 155 days) bought their coins. Historically, when Bitcoin’s price falls below this average cost, it often suggests a bearish market shift. Currently, Bitcoin is trading slightly above this crucial level, but a drop below could signal weakening investor sentiment.

Long-Term Holders: Selling, But Not Panicking

While long-term holders (those holding for 155 days or more) are selling their Bitcoin, Glassnode notes that the rate of selling has likely peaked. Interestingly, even with prices down from all-time highs, this selling pressure doesn’t automatically mean the bull market is over. Past cycles show that LTH selling can continue even as prices rise.

The Big Picture: Still Mostly Profitable

A significant factor to consider is that almost all LTHs are still in profit. In previous market downturns, prolonged and increasing losses among LTHs signaled the true end of a cycle. This isn’t currently the case.

Conclusion: Cautious Optimism

Glassnode’s analysis paints a mixed picture. While indicators suggest a potential turning point, the situation isn’t necessarily cause for immediate alarm. The continued profitability of LTHs and the peaking of LTH selling offer a degree of cautious optimism. However, investors should remain vigilant and monitor the market closely.

slot pulsa Slot pulsa Gemilang77 Slot deposit pulsa Gemilang77 Slot pulsa Situs slot pulsa Link slot pulsa Slot deposit pulsa Slot pulsa Slot pulsa Deposit pulsa 5000 Slot pulsa Slot pulsa Slot pulsa https://letsplayparty.com/ https://www.alboprofessionisti.com/ Slot pulsa Gemilang77 Merpati77 Slot thailand Kaswari77 Kaswari77 Lotustoto Lotustoto Lotustoto Slot gacor Slot gacor hari ini Slot deposit 5000 slot deposit 5000 Slot 5000 Slot qris Slot toto 5000 Toto slot resmi Situs toto 4d Toto slot Situs togel Slot via pulsa Slot deposit dana Situs toto togel Daftar situs toto Situs toto online Kembangtoto Toto slot https://situskembangtoto.com/ Slot deposit via qris Situs toto Situs toto kembangtoto toto slot Kingdomtoto Kingdomtoto