“Buy at the bottom, sell at the top” is one of the first pieces of advice that newbie investors get. cryptocurrency. However, predicting peak and bottom can be very challenging.
According to Glassnode, short-term Bitcoin holders miscalculated their entry - many of them bought BTC at its very peak and sold at a loss after falling to $ 30,000.
Short-term Bitcoin holders have been selling at a loss for two weeks now. This can be seen on the STH-SOPR indicator, which indicates below 1.
A reading below 1 STH-SOPR means thatinvestors sold their BTC at a loss. The indicator takes into account transactions younger than 155 days. It is often used to study the behavior of short-term investors.
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According to the materials www.investing.com