Bitcoin's short-term sell price (STH) momentum has fallen to -24% year-over-year.
The year-over-year sell price of Bitcoin (STH) turned negative in mid-March at around -2.4%.
Instead of stabilizing, it continued to decline, reaching approximately -24% as of June 23.
This indicates that the current Bitcoin sell price (STH) is about 24% lower than its level a year ago.
This ongoing contraction reflects the weakening momentum of Bitcoin's STH cost base and is consistent with weak speculative participation.
Historically, much deeper contractions have occurred during major reset periods, typically in the -55% to -65% range.
These levels coincided with periods of sharp resets to Bitcoin's STH cost base by short-term coin holders, after which market conditions eventually improved.
BottomL:
The decline that began in March has intensified, but the current reading is still less severe than previous deep reset zones.
While the price may begin to stabilize before this indicator rises, Bitcoin's base cost (STH) momentum has yet to show any signs of a stronger recovery.
#BinancePickAndWin
The year-over-year sell price of Bitcoin (STH) turned negative in mid-March at around -2.4%.
Instead of stabilizing, it continued to decline, reaching approximately -24% as of June 23.
This indicates that the current Bitcoin sell price (STH) is about 24% lower than its level a year ago.
This ongoing contraction reflects the weakening momentum of Bitcoin's STH cost base and is consistent with weak speculative participation.
Historically, much deeper contractions have occurred during major reset periods, typically in the -55% to -65% range.
These levels coincided with periods of sharp resets to Bitcoin's STH cost base by short-term coin holders, after which market conditions eventually improved.
BottomL:
The decline that began in March has intensified, but the current reading is still less severe than previous deep reset zones.
While the price may begin to stabilize before this indicator rises, Bitcoin's base cost (STH) momentum has yet to show any signs of a stronger recovery.
#BinancePickAndWin