“Buy at the bottom, sell at the top” – this is one of the first pieces of advice newbie investors receive.cryptocurrency. However, predicting the peak and bottom can be a very difficult task.
According to Glassnode, short-term Bitcoin holders miscalculated their entry – many of them bought BTC at the 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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Based on materialswww.investing.com
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