According to a recent analysis by Checkmate, Glassnode’s leading on-chain analyst, Bitcoin (BTC) has reached a critical point in its price trajectory.
As the market struggles to maintain its upward momentum and faces downward price predictions, attention is turning to short-term holders (STH) and their potential influence on Bitcoin’s future price movement.
In this article we will delve into the key metrics highlighted by Checkmate’s analysis, shedding light on the current state of the market and the implications for Bitcoin bulls.
The decision point of the Bitcoin (BTC) price
Checkmate states that Bitcoin is currently at a “decision point,” with the actions of short-term holders playing a key role in determining the course of this correction.
Short-term holders are defined as individuals who hold coins for 155 days or less, and their behavior provides valuable insights into market sentiment and potential price movement.
Analysis of the metrics of short-term holders
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