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Bitcoin has recently displayed signs of upward momentum, trading at $85,215, marking a 2.2% increase in just the past day. Despite this short-term gain, the asset remains down by over 21.2% from its all-time high of $109,000 reached in January.
The ongoing price fluctuations have left Bitcoin in a downward trend on a broader time scale, with investors and analysts closely watching for signs of a rally.
Path To $150k: Short-Term Holders’ Changing Behavior
Despite the recent dip, data from CryptoQuant provides interesting insights into Bitcoin’s market dynamics. According to one of CryptoQuant’s contributors, Onchained, the behavior of short-term holders is a key factor to observe in the current market.
Onchained’s analysis suggests that short-term holders, defined as those who have held Bitcoin for between one and three months, are no longer panicking and selling at a loss as they did in previous market cycles. The analysis reveals a slowdown in the selling pressure from this group, suggesting a shift in sentiment.
Onchained’s report highlights the importance of the Short-Term Holder Net Realized PNL to Exchanges (CEXs) metric. This metric helps determine the selling pressure on Bitcoin, showing who is selling, whether they’re selling at a profit or loss, and the overall intensity of the market’s movement.
The data indicates that while short-term holders are selling, the realized losses have been relatively low compared to unrealized losses. This suggests that these holders, despite being in the red, are opting to hold their positions rather than panic sell.
Onchained further notes that this reduction in selling pressure could indicate the formation of a market bottom. Historically, when realized losses from short-term holders have been low and selling pressure has diminished, it has marked the end of a downward trend and the beginning of a recovery phase.
With 28% of Bitcoin’s circulating supply in the hands of short-term holders, if these coins transition into long-term holders, it could significantly contribute to Bitcoin’s price surge beyond $150,000.
Decreasing Selling Pressure and What It Means for Bitcoin’s Future
Another CryptoQuant analyst, CryptoOnchain, has pointed out that the selling pressure from short-term holders is indeed decreasing, as reflected in both the Short-Term SOPR chart and the UTXO Age Band for holders between one to three months.
The data shows a decrease in Bitcoin being moved by this group, suggesting that short-term investors are holding off on making further sales. This aligns with Onchained’s view that a reduction in short-term selling pressure could signal a market bottom.
Decrease in selling pressure by 1-3 month holders
“These holders appear to show reduced activity in the market after taking profits from their short-term trades.” – By @CryptoOnchain
Read more ⤵️https://t.co/ThyGe7pjPO pic.twitter.com/0minPLfiWM
— CryptoQuant.com (@cryptoquant_com) April 1, 2025
If the trend of lower selling pressure continues, Bitcoin could see more stability or even a price rebound. As we approach a crucial phase for Bitcoin, all eyes will be on these short-term holders and the potential for a longer-term shift in sentiment.
Featured image created with DALL-E, Chart from TradingView
Meet Samuel Edyme, Nickname – HIM-buktu. A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others.
Edyme’s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis.
Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events—like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ’s arrest—has honed his keen sense of market dynamics.
When he isn’t crafting engaging crypto content, you’ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he’s catching some Z’s or scrolling through Elon Musk’s very own X platform—(oops, another screen activity, my bad…)
Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters—(don’t judge, that’s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or “kaizen,” striving to be 1% better every day. His mantras, “God knows best” and “Everything is still on track,” reflect his resilient outlook and how he lives his life.
In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He’s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck—unflappable. Edyme is like trading in your car for a jet—bold. He’s the guy who’d ask his boss for a pay cut just to prove a point—(uhhh…). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent—okay, maybe that’s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps.
Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That’s just not the way he roll. He has these favorite lyrics from NF’s “Clouds” that resonate deeply with him: “What you think’s probably unfeasible, I’ve done already a hundredfold.”
PS—Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He’s 100% Him-alayan. Screw it, he ate the opp.
Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.
