BTC short-term holders take this route through bear market

Alas, not everyone seems to be sharing the positive sentiment towards the king coin in the current market structure.that its on-chain data suggested, those holding BTC for six months or more have not been selling their holdings.

Whereas those holding onto the cryptocurrency for less than half of a year have been divesting their holdings.Source: Glassnode The monthly average of the Short-Term Net Unrealized Profit to Loss ratio is at its lowest level since November 2011. A NUPL value of -0.50 means that 50% of all value held by Short-Term Holders is currently at an unrealized loss.

Furthermore, the #1 cryptocurrency needs to showcase equal affection for both these cohorts. The lack of affection towards the short-term holders could offset BTC’s reign to reclaim its lost spot.Subscribe to get it daily in your inbox.

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