Analytics Firm Glassnode Issues Bitcoin Alert, Says BTC May Face Sell Pressure From This Investor Cohort

Analytics Firm Glassnode Issues Bitcoin Alert, Says BTC May Face Sell Pressure From This Investor Cohort


Market intelligence firm Glassnode says that Bitcoin (BTC) could soon face sell-side pressure from short-term holders (STHs) eager to cash in on the king crypto’s latest price uptick.

In a new analytics report, Glassnode finds Bitcoin’s recent surge to $23,000 pushed 97.5% of its short-term holders into the green at one point during the week, something that hasn’t happened since the top crypto asset by market cap hit its all-time high in November 2021.

The crypto analytics platform defines short-term holders as those holding BTC for less than 155 days.

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According to Glassnode, 97.5% of STHs having unrealized gains historically marks that sell pressure is on the horizon.

“Interestingly, during bear markets, when [over] 97.5% of the acquired supply by new investors is in loss,

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