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It has been an unpredictable few months for the price of Bitcoin and the cryptocurrency market since the start of the year, and even as far back as the election of Donald Trump for his second term as US president. According to data from CoinGecko, the premier cryptocurrency is down by a little over 2% in the past month.
While the monthly record suggests that the price of BTC had a relatively stable past 30 days, March was far from calm, as prices fell deeply at the beginning before somewhat stabilizing around the middle of the month. This level of chaos explains why a group of Bitcoin investors is approaching the market with extra caution.
BTC Short-Term Holders Exiting The Market In Distress?
In a recent Quicktake post on the CryptoQuant platform, crypto analyst IbrahimCosar revealed a shift in the sentiment of a key group of Bitcoin investors over the past few weeks. According to the trader, BTC’s short-term holders (STH) are showing an extreme level of panic and fear in the market.
This on-chain observation is based on the Short-Term Holder Spent Output Profit Ratio (STH-SOPR) metric, which measures the profitability ratio of spent outputs (held for more than 1 hour but less than 155 days). This indicator offers insight into the profitability of the holdings of short-term investors.
The STH-SOPR metric shows if short-term holders are selling at a profit, breakeven, or a loss. A value greater than one means that the short-term investors are selling at a profit, while a value less than one for the metric suggests that most short-term holders are selling at a loss. It is worth noting that when STH-SOPR’s value is one, it implies that investors are moving their coins at neither a profit nor a loss.
According to recent data from CryptoQuant, the STH-SOPR metric has been below the 1 threshold, indicating that short-term holders are offloading their assets at a loss. As highlighted in red in the chart below, this trend of selling at a loss has persisted since the end of January 2025.
Historically, this significant level of loss realization is correlated with periods of extreme panic and fear amongst the Bitcoin investors. Periods of extreme panic have been associated with market bottoms, as it means that weak hands (impulsive traders) exit the market and allow long-term investors to accumulate.
Ultimately, this means that short-term investors selling their coins could be good for the premier cryptocurrency in the long term.
Bitcoin Price At A Glance
As of this writing, the price of BTC stands at around $83,200, reflecting an over 2% increase in the past 24 hours.
Featured image from iStock, chart from TradingView
Opeyemi is a proficient writer and enthusiast in the exciting and unique cryptocurrency realm. While the digital asset industry was not his first choice, he has remained absolutely drawn since making a foray into the space over two years. Now, Opeyemi takes pride in creating unique pieces unraveling the complexities of blockchain technology and sharing insights on the latest trends in the world of cryptocurrencies.
Opeyemi savors his attraction to the crypto market, which explains why he spends the better parts of his day looking through different price charts. “Looking” is a rather simple way to describe analyzing and interpreting various price patterns and chart formations. However, it appears that is not Opeyemi’s favorite part – in fact, far from it.
Being able to connect what happens on a price chart to on-chain movements and blockchain activities is what keeps Opeyemi ticking. “This emphasizes the intricacies of blockchain technology and the cryptocurrency market,” he would say. Most importantly, Opeyemi thinks of any market insights as the gospel, while recognizing that he is only a messenger.
When he is not clicking away at his keyboard, Opeyemi is most definitely listening to music, playing games, reading a book, or scrolling through X. He likes to think he is not loyal to a particular genre of music, which can be true on many days. However, the fast-rising Afrobeats genre is a staple in Opeyemi’s Spotify Daily Mix.
Meanwhile, Opeyemi is a voracious reader who enjoys a wide category of books – ranging from science fiction, fantasy, and historical, to even romance. He believes that authors like George R. R. Martin and J. K.
Rowling are the greatest of all time when it comes to putting pen to paper. Opeyemi believes his reading of the Harry Potter series twice is proof of that.
Indeed, Opeyemi enjoys spending most of his time within the four walls of his home. However, he also sometimes finds solace in the company of his friends at a bar, a restaurant, or even on a stroll. In essence, Opeyemi’s ambivert (haha! been searching for an opportunity to use the word to describe myself) nature makes him a social chameleon who is able to quickly adapt to different settings.
Opeyemi recognizes the need to constantly develop oneself in order to stay afloat in a competitive and ever-evolving market like crypto. For this reason, he is always in learning mode, ready to pick up the slightest lesson from every situation. Opeyemi is efficient and likes to deliver all that is required of him in time – he believes that “whatever is worth doing at all is worth doing well.” Hence, you will always find him striving to be better.
Ultimately, Opeyemi is a good writer and an even better person who is trying to shed light on an exciting world phenomenon – cryptocurrency. He goes to bed every day with a smile of satisfaction on his face, knowing that he has done his bit of the holy assignment – spreading the crypto gospel to the rest of the world.
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