Bitcoin (BTC) Price Rallies Are Harder Now Given Nearly All Short-Term Holders Are Underwater

“Almost 90% of short-term holders (< 155 days) are suffering unrealized losses, which often correlates with selling pressure,” Solot added, explaining that the recent optimism around prospects for U.S. approval of spot bitcoin ETFs has shifted to “still decent odds of approval but delayed” amid rising bond yields and tighter liquidity conditions.

Source: https://www.coindesk.com/markets/2023/08/23/nearly-90-of-bitcoin-short-term-holders-are-underwater-onchain-data-show/?utm_medium=referral&utm_source=rss&utm_campaign=headlines