Bitcoin Faces Resistance Near $116K as Short-Term Holder Profits Decline

Description

Bitcoin’s price drop below $116K lowers market leverage and short-term profit margins. About 120,000 BTC purchased lifting price above $114K but resistance holds. ETF outflows and neutral derivative funding rates signal cooling speculative interest. The fall in the price of Bitcoin below $116,000 led to a decrease in market leverage and the profitability of operations by short-term holders, analysts from Glassnode concluded. This trend followed a recent peak near $123,000 in July, where a resist...