BTC Short-Term Holder Profits Decline...Investor Sentiment Cools

“While the Short-Term Holder P/L Ratio is still dominant at 1.08, it has fallen below the 90-day average, signaling a general market correction,” on-chain analytics firm Glassnode analyzed via X. ‘The ratio of BTC short-term holders’ market value to BTC short-term holders' market capitalization has declined, cooling investor sentiment. “The BTC Short-Term Holder Market Value to Realized Value Ratio (STH-MVRV) has fallen to 1.05 and is below its 90-day moving average. With short-term holders' profit margins shrinking, short-term selling pressure is likely to increase. Meanwhile, the decline in realized gains for short-term holders suggests that the distribution cycle is winding down. This could indicate that the market has entered a new phase as short-term holders reduce their selling in a bull market.”