Bitcoin has maintained a tight trading range between $28,000 and $30,000 since April 2023, a prolonged sideways movement that has been a rarity in the market. One of the reasons for this squeezed price range, especially after BTC dropped below $30,000, is price support created by short-term holders.
Short-term holders are entities that have held Bitcoin for a relatively brief period, typically less than 155 days. Their behavior is crucial in analyzing Bitcoin’s performance as they often react more quickly to market changes, thereby influencing price movements.
Support authors and subscribe to content
This is premium stuff. Subscribe to read the entire article.
Login if you have purchased