The top cryptocurrency’s short-term holders-those delightful folks who treat Bitcoin like a hot potato-are once again realizing losses. This, much to everyone’s surprise (not), is eerily similar to that time earlier in the year when the markets threw a tantrum.
Hereās CryptoQuantās take, which may or may not involve tea leaves and a crystal ball.
The Great Short-Term Loss Spectacle
Bitcoinās short-term holders-those who hold coins for roughly five months or less (or, as some prefer, fewer than 155 days, because specificity is everything)-have been selling at a loss for the first time since January. Back then, the world was a mess: Trump was doing whatever Trump does, interest rates were threatening to rise like bread in a sullen bakery, and AI had everyone in a tizzy thanks to DeepSeekās grand debut (spoiler: it still couldn’t predict this).

The marketās little dip reached peak drama in early April, but then-plot twist-it started recovering. Not only did losses vanish like socks in a dryer, but some assets (yes, BTC included) even broke their all-time highs. STHs, ever the opportunistic bunch, were happily selling for sweet, sweet profit as Bitcoin danced into six-figure territory.
But wait! The past few days brought another correction-*gasp*-dragging BTC down by a cool $10K. And just like that, STH-SOPR multiples (Spent Output Profit Ratio, or “How Much Pain Are We In?”) dropped below 1 for the first time in six months. History suggests this either means:
- Traders are fleeing like startled pigeons.
- The market is taking a breather before launching into another rally, like a boxer between rounds.

If history repeats itself (which, letās be honest, it often does when weāre not looking), this could be pivotal for Bitcoinās future. If bulls manage to absorb the selling frenzy quickly, we might see a rebound faster than you can say “hodl.” If not? Well⦠buckle up, it might get bumpy.
Thereās Always a Silver Lining (Or So They Say)
A CryptoQuant analyst-armed with graphs and a mild caffeine addiction-points out that Bitcoinās exchange netflow has become even more negative, going from -1.7K to -3.4K BTC per day.

This means Bitcoin is being bought faster than itās being sold on exchanges, hinting that traders are happily gobbling up discounted BTC like itās the last chocolate croissant at a buffet. Either that, or theyāre just very bad at math. Either way, optimism prevails-for now.
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2025-08-19 13:36