Over the weekend, the Bitcoin market experienced a tumultuous dip, with prices plunging from $70,090 to $64,400 before settling around $66,000. Market watchers are keenly observing the behaviors of short-term and long-term Bitcoin holders—their reactions often providing clues about future trends. Short-term holders appear rattled, hastily selling off their Bitcoin at a loss as indicated by a sharp drop in their SOPR metric. On the flip side, long-term holders continued to display resilience amid downturns. But what does their steadfast confidence imply about Bitcoin's future amidst this volatility?
Bitcoin’s weekend dip shakes out short-term holders Bitcoin’s weekend dip shakes out short-term holders
Short-term holders reacted swiftly to Bitcoin's weekend price drop, selling at a loss, while long-term holders remained undeterred.
2 min read
Updated: Apr. 16, 2024 at 7:04 am UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
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Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.