Bitcoin’s recent correction to $92,000 came after failing to breach the psychological resistance at $100,000, a critical level expected to mark a new chapter in the ongoing bull market. While corrections of up to -30% are frequent during bull runs, the sharp decline below $93,000 caused a segment of short-term holders (STHs) to realize losses. […]
Short-term holders hit with losses as Bitcoin fell below $93k Short-term holders hit with losses as Bitcoin fell below $93k
Changes in SOPR and MVRV ratios highlight short-term holders profitability struggle amid price correction.
3 min read
Updated: Nov. 27, 2024 at 10:33 pm 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.