$BTC Short-term bulls and bears are at a critical watershed.
Bitcoin's short-term holder SOPR 30-day moving average has reportedly flipped positive for the first time in 6 months, indicating that short-term holders have moved from the loss zone back to breakeven, or even a slight profit.
This usually has two interpretations:
In a bull market: It signals a resurgence of confidence, and funds are willing to hold on.
In a bear market rebound: This could actually become a resistance level, as many will want to cash out once they break even.
So now's not the time to blindly chase highs, but to observe:
Are short-term holders choosing to hold on, or sell once they recover their costs?
The next moves for BTC may depend on how this group decides to act.
#BTC #SOPR
Bitcoin's short-term holder SOPR 30-day moving average has reportedly flipped positive for the first time in 6 months, indicating that short-term holders have moved from the loss zone back to breakeven, or even a slight profit.
This usually has two interpretations:
In a bull market: It signals a resurgence of confidence, and funds are willing to hold on.
In a bear market rebound: This could actually become a resistance level, as many will want to cash out once they break even.
So now's not the time to blindly chase highs, but to observe:
Are short-term holders choosing to hold on, or sell once they recover their costs?
The next moves for BTC may depend on how this group decides to act.
#BTC #SOPR