Bitcoin short-term holders ‘cooled off’ profit-taking as price sticks to $115K
Main Idea
Bitcoin short-term holders have reduced profit-taking as the price stabilizes, with the market in a balanced position and positive outlook for the remainder of 2025.
Key Points
1. Bitcoin's price is slowly climbing above its local low of $112,000, with short-term holders (STH) reducing profit-taking, as their spent volume dropped to 45%.
2. The market is in a relatively balanced position, with 70% of STH supply still held in profit and an even split of profit and loss.
3. Bitcoin STH Spent Output Profit Ratio (SOPR) indicates recent buyers are selling around their buy-in price, reflecting weaker hands exiting.
4. Fundstrat co-founder Tom Lee predicts Bitcoin could reach $250,000 in 2025, despite cautious sentiment from other analysts.
5. Bitcoin's current trading price is $114,766, following a recent drop from its all-time high of $123,100 on July 14.
Description
The Bitcoin market is in a “relatively balanced position” despite the recent price pullback from all-time highs, Glassnode says.
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