Bitcoin short-term holders ‘cooled off’ profit-taking as price sticks to $115K

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.