Bitcoin (BTC) has difficulty in determining its direction after seeing $ 109,000. While price fluctuations increase rapidly, the market is preparing for the next big move. However, the attention that draws attention is that long -term investors (LTH) still do not sell. While short -term investors (STH) realize their losses, LTHs continue to maintain their positions. So what does this mean for BTC?
Long -term investors do not sell, on the contrary waiting
According to Cryptoquant data, Bitcoins in the hands of long -term investors still do not move. Inactive Supply Shift Index (ISSI) data shows that there is no significant sales pressure from this investor group. This shows that the supply in the market is limited and that the demand is structurally outweigh.
This tells us: Smart money does not leave the market, on the contrary, it takes a position for the next rise. Historically, in similar situations, LTHs remained in the position, harbinger of large price increases. Conversely, the fact that this group starts selling is usually considered as a peak signal.
Bitcoin: STHs at damage, high psychological pressure
On the other hand, the table for short -term investors is more complex. The realized price of STHs is currently around $ 92,000. This shows that since March 6, this group is mostly damaged. The uncertainty usually causes weak hands to give up.
This clearly shows that two different behavioral models between LTH and STH have emerged in the market. While LTHs are waiting safely, STHs decide under pressure. As a result, these opposite behavior deepens the consolidation process of the market.
Bitcoin: Data on chain shows that sales pressure is reduced
Our analysis as Kriptokoin.com confirms this table. Flow Flow Ratio has dropped from 0.12 to 0.05. This shows that there is a major decrease in the amount of BTC sent to the stock market. If fewer funds enter the stock market, sales pressure is naturally decreasing.
This decrease shows that LTHs either accumulate or maintain their existing positions. The decrease in volume prevents sudden sales waves and makes the market more stable. In other words, the sale of sales in the market is weakened.
Supply is decreasing, demand is fixed: Does the price rise?
Bitcoin’s Stock-to-Flow ratio has declined from 43K to 42K in the last week. This reveals that the circulating supply is reduced. If the demand remains constant or increases, this supports the upward movement of prices.
In summary, long -term investors do not sell, while the panic sales of short -term investors are a balance in the market. If this balance does not break, the price of BTC may be consolidated in the range of $ 82,000 – $ 87,000. However, if there is a permanent breakdown above these levels, the price may rise to $ 92,000. This is exactly why it is necessary to continue to watch the market.
