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BitcoinSistemi 2025-01-07 19:56:06

Is This Why Bitcoin Price Can’t Break a New Record? Analytics Company Explains the Cause of Price Pressure

Cryptocurrency analytics firm Alphractal has flagged a potential concern for Bitcoin by pointing to a recent change in behavior among short-term wallets (STH). The firm stated in its statement that short-term investors who have held Bitcoin for less than 155 days are increasingly selling their BTC, and if this trend continues, it could affect the BTC price. Alphractal’s analysis focuses on the “Accumulation and STH Distribution” metric, which tracks the inflow and outflow of Bitcoin from addresses held by short-term investors. Daily changes in this metric indicate a growing interest among these investors to sell their Bitcoin. “When analyzing the monthly change, it is clear how the STH supply moves in waves of accumulation and distribution, which is strongly correlated with Bitcoin’s price action,” Alphractal said. The firm noted that interest in accumulating Bitcoin has been steadily decreasing since December 5, which has put downward pressure on the BTC price. Related News: After Binance's Announcement, the AI Altcoin Whales are Active - Here are the Altcoins They Bought and Sold While Alphractal cautioned against overreacting to the current trend, it did acknowledge the sentiment-driven nature of the metric. “This does not preclude Bitcoin from rallying again in the future, as we saw in 2021,” the statement said. However, the firm noted that current behavior suggests many investors are motivated to take profits at current price levels, which could hinder any short-term price appreciation. The trend of distribution among short-term holders could be cautious for Bitcoin’s near-term prospects, especially if it gains momentum. However, as Alphractal noted, the metric is not decisive and could shift back toward accumulation, especially if market conditions improve or longer-term bullish factors come into play. *This is not investment advice. Continue Reading: Is This Why Bitcoin Price Can’t Break a New Record? Analytics Company Explains the Cause of Price Pressure

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