Can Bitcoin's short-term holders resist the urge to take profit above $33,000?
Bitcoin may see a “market correction” should BTC price action go much beyond $33,000, research warns.speculative selling risk on the horizon.Bitcoin short-term holders — the more speculative BTC investors — have returned to the spotlight this year.near $26,000. For Glassnode, which observed the cost basis’ significance in recent weeks, the opposite effect could soon appear.
It did so using the market value to realized value metric, which divides the spot value of coins versus the price at which they last moved. The resulting number, which forms a measure of profitability or loss, fluctuates around 1, which corresponds to a “breakeven” price. “This ratio is currently at 1.12, suggesting that, on average, the short-term holder cohort is sitting on a 12% profit.”
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