Crypto Craze: Bitcoin Holders Rejoice as Prices Soar! 🚀💰

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Ah, the sweet smell of profit! 💰 As the Bitcoin (BTC) price swings like a pendulum on a sugar high, the short-term holders (STH) are back in the green, with a whopping 80% of them basking in the glory of their gains. 🤑

But wait, there’s a catch! 🤔 According to the esteemed analyst Darkfost, these STHs are starting to get a little trigger-happy, with their spent output profit ratio (STH-SOPR) turning negative. Looks like they’re ready to cash out their winnings, even if it means taking a loss. 💸

Bitcoin price chart

But fear not, my crypto-loving friends! 🙌 Darkfost has a silver lining for us: when this metric turns negative, it often highlights attractive entry points for the long-term investors. 🤑 So, get ready to pounce on those juicy discounts, because the FOMO is in full swing, baby! 🚀

Read more$70 million in 24 hours: Can Ethereum crack $4,000 thanks to whales?

Bitcoin short-term holder supply in loss

Now, let’s talk about the critical zone for BTC, shall we? 🤔 According to the esteemed Glassnode, the range between $95,000 and $90,000 is where the action’s at. This is where the sellers have capitulated, and the buyers have jumped in, solidifying the bullish structure. 💪

Bitcoin price critical zone

But wait, there’s more! 😏 Crypto educator Mihir has a hot take on the potential downside risk, suggesting a “safe retracement” level between $90,000 and $80,000. 🤑 So, buckle up, folks, because the crypto rollercoaster is just getting started! 🎢

Read moreBitcoin halving could be a ‘sell-the-news’ event, at least for a few months

Bitcoin technical support levels

In the end, it’s all about riding the wave, my friends. 🌊 So, grab your surfboard, put on your shades, and get ready to catch the next big one! 🏄‍♂️ 🌊 🤑

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2025-01-21 22:23