{"id":604043,"date":"2024-04-19T23:00:23","date_gmt":"2024-04-19T23:00:23","guid":{"rendered":"https:\/\/uniquehot.com\/?p=604043"},"modified":"2024-06-11T08:08:28","modified_gmt":"2024-06-11T08:08:28","slug":"bitcoin-selling-pressure-cryptoquant-head-why","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-selling-pressure-cryptoquant-head-why\/","title":{"rendered":"Bitcoin Trader Selling Pressure Declining, CryptoQuant Head Explains Why"},"content":{"rendered":"

The head of research at the on-chain analytics firm CryptoQuant has explained why selling pressure from Bitcoin traders may be declining.<\/p>\n

Bitcoin Short-Term Holder Realized Price Has Risen To $60,000<\/h2>\n

In a new post<\/a> on X, CryptoQuant head of research Julio Moreno has discussed why the short-term holder selling pressure may be declining for BTC. The “short-term holders<\/a>” (STHs) refer to the Bitcoin investors who have been holding onto their coins since less than 155 days ago.<\/p>\n

Related Reading: Bitcoin Miners Always Sell Into Halvings, Is This Time Any Different?<\/a><\/div>\n

The STHs include the “traders” of the market who make many moves within short periods and don’t tend to HODL their coins. This group can be quite reactive to market movements, easily panic selling whenever a crash or rally takes place.<\/p>\n

Generally, investors in profits are more likely to sell their coins, so one way to gauge whether the STHs would be likely to take part in a selloff is through their profit\/loss margin.<\/p>\n

Here, Moreno has cited the profit\/loss margin of this cohort based on its realized price.<\/p>\n

\"Bitcoin<\/p>\n

The realized price of the group appears to have been going up in recent weeks | Source: @jjcmoreno on X<\/a><\/pre>\n
The STH realized price<\/a> (highlighted in pink) here refers to the average cost basis or acquisition price of the investors part of this cohort calculated using blockchain transaction history.<\/p>\n
When the spot value of the cryptocurrency is above this level, it means that these holders as a whole are sitting on some net profits right now. On the other hand, the price being below the metric implies the dominance of losses.<\/p>\n
From the above chart, it’s visible that Bitcoin has been above the STH realized price for the last few months, meaning that these traders have been enjoying profits.<\/p>\n
This is typical during bull markets as the price keeps pushing up, letting these investors make profits. While STHs tend to stay in the green in these periods, tops do become probable to take place if these profits get extreme.<\/p>\n
As is apparent in the graph, the profit\/loss margin spiked to significant levels just as BTC set its latest all-time high<\/a>, which continues to be the top thus far.<\/p>\n
Related Reading: Chainlink (LINK) Forms Bullish Pattern That Led To 50% Rally On Average<\/a><\/div>\n
Recently, as Bitcoin has consolidated between the $60,000 to $70,000 range, the STH realized price has rapidly risen, now attaining a value of around $60,000. This occurs because as STHs have traded in this range, their acquisition prices have been repriced at these higher levels, thus pushing up the average.<\/p>\n
BTC has been quite close to this level recently so that the STHs wouldn’t be holding that much profit now. “Bitcoin selling pressure from traders may be declining as unrealized profit margins are basically zero now,” notes the CryptoQuant head.<\/p>\n
BTC Price<\/h2>\n
Bitcoin has continued to show action contained within its recent range as its price is still trading around $65,200.<\/p>\n
\"Bitcoin<\/p>\n
Looks like the price of the asset has rebounded in the past day | Source: BTCUSD on TradingView<\/a><\/pre>\n
Featured image from Kanchanara on Unsplash.com, CryptoQuant.com, chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"
The head of research at the on-chain analytics firm CryptoQuant has explained why selling pressure from Bitcoin traders may be declining. Bitcoin Short-Term Holder Realized Price Has Risen To $60,000 In a new post on X, CryptoQuant head of research Julio Moreno has discussed why the short-term holder selling pressure may be declining for BTC. The “short-term holders” (STHs) refer to the Bitcoin investors who have been holding onto their coins since less than 155 days ago. Related Reading: Bitcoin Miners Always Sell Into Halvings, Is This Time Any Different? The STHs include the “traders” of the market who make many moves within short periods and don’t tend to HODL their coins. This group can be quite reactive to market movements, easily panic selling whenever a crash or rally takes place. Generally, investors in profits are more likely to sell their coins, so one way to gauge whether the STHs would be likely to take part in a selloff is through their profit\/loss margin. Here, Moreno has cited the profit\/loss margin of this cohort based on its realized price. The realized price of the group appears to have been going up in recent weeks | Source: @jjcmoreno on X The STH realized price (highlighted in pink) here refers to the average cost basis or acquisition price of the investors part of this cohort calculated using blockchain transaction history. When the spot value of the cryptocurrency is above this level, it means that these holders as a whole are sitting on some net profits right now. On the other hand, the price being below the metric implies the dominance of losses. From the above chart, it’s visible that Bitcoin has been above the STH realized price for the last few months, meaning that these traders have been enjoying profits. This is typical during bull markets as the price keeps pushing up, letting these investors make profits. While STHs tend to stay in the green in these periods, tops do become probable to take place if these profits get extreme. As is apparent in the graph, the profit\/loss margin spiked to significant levels just as BTC set its latest all-time high, which continues to be the top thus far. Related Reading: Chainlink (LINK) Forms Bullish Pattern That Led To 50% Rally On Average Recently, as Bitcoin has consolidated between the $60,000 to $70,000 range, the STH realized price has rapidly risen, now attaining a value of around $60,000. This occurs because as STHs have traded in this range, their acquisition prices have been repriced at these higher levels, thus pushing up the average. BTC has been quite close to this level recently so that the STHs wouldn’t be holding that much profit now. “Bitcoin selling pressure from traders may be declining as unrealized profit margins are basically zero now,” notes the CryptoQuant head. BTC Price Bitcoin has continued to show action contained within its recent range as its price is still trading around $65,200. Looks like the price of the asset has rebounded in the past day | Source: BTCUSD on TradingView Featured image from Kanchanara on Unsplash.com, CryptoQuant.com, chart from TradingView.com<\/p>\n","protected":false},"author":542,"featured_media":604053,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,86297,86007,84852,85577,1119,1144,83531],"class_list":["post-604043","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-realized-price","tag-bitcoin-selling-pressure","tag-bitcoin-short-term-holders","tag-bitcoin-traders","tag-btc","tag-btcusd","tag-cryptoquant"],"acf":[],"yoast_head":"\nBitcoin Trader Selling Pressure Declining, CryptoQuant Head Explains Why<\/title>\n<meta name=\"description\" content=\"The head of research at the on-chain 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Keshav has been writing for many years, first as a hobbyist and later as a freelancer. He has experience working in a variety of niches, even fiction at one point, but the cryptocurrency industry has been the longest he has been attached to. In terms of official educational qualifications, Keshav holds a bachelor\u2019s degree in Physics from one of the premier institutes of India, the University of Delhi (DU). He started the degree with an aim of eventually making a career in Physics, but the onset of COVID led to a shift in plans. The virus meant that the college classes had to be delivered in the online-mode and with it came free time for him to explore other passions. Initially only seeking to make some beer money, Keshav unexpectedly landed clients offering real projects, after which there was no looking back. Writing was something he had always enjoyed and to be able to do it for a living was like a dream come true. Keshav completed his Physics degree in 2022 and has been focusing on his writing career since, but that doesn\u2019t mean his passion for Physics has ended. He eventually plans to re-enter university to obtain a masters degree in the same field, but perhaps only to satiate his own interest rather than for using it as a means to find employment.. Keshav has found blockchain and its concepts fascinating ever since he started going down the rabbit-hole back in 2020. On-chain analysis in particular has been something he likes to research more about, which is why his NewsBTC pieces tend to involve it in some form. Being of the science background, Keshav likes if concepts are clear and consistent, so he generally explains the indicators he talks about in a bit of detail so that the readers can perhaps come out having understood and learnt something new. As for hobbies, Keshav is super into football, anime, and videogames. He enjoys football not only as a watcher, but also as a player. For games, Keshav generally tends towards enjoying singleplayer adventures, with EA FC (formerly FIFA) being the only online game he is active in. Though, perhaps due to being ultra-focused on the game, he is today a semi-pro on the EA FC scene, regularly participating in tournaments and sometimes even taking back prize money. Because of his enthusiasm for anime and games, he also self-learned Japanese along the way to consume some of the untranslated gems out there. The skill didn\u2019t merely remain as just a hobby, either, as he put it to productive use during his exploration for small-time gigs at the start of COVID, fulfilling a couple of Japanese-to-English translation jobs. Keshav is also big into fitness, with agility and acceleration-related workouts making a big part of his program due to the relevance they have in football. On top of that, he also has a more traditional strength based program for the gym, which he does to maintain an overall fitness level of his body.","sameAs":["https:\/\/www.linkedin.com\/in\/keshavverma29\/","https:\/\/x.com\/https:\/\/twitter.com\/keshavvarma29"],"url":"https:\/\/uniquehot.com\/author\/hououinkyouma29\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Trader Selling Pressure Declining, CryptoQuant Head Explains Why","url":"http:\/\/uniquehot.com\/news\/bitcoin-selling-pressure-cryptoquant-head-why\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/bitcoin-selling-pressure-cryptoquant-head-why\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/04\/kanchanara-GnWfl_nnZro-unsplash.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/04\/kanchanara-GnWfl_nnZro-unsplash.jpg?fit=6048%2C4024"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Keshav Verma"}],"creator":["Keshav Verma"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin realized price","bitcoin selling pressure","bitcoin short-term holders","bitcoin traders","btc","btcusd","cryptoquant"],"dateCreated":"2024-04-19T23:00:23Z","datePublished":"2024-04-19T23:00:23Z","dateModified":"2024-06-11T08:08:28Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Trader Selling Pressure Declining, CryptoQuant Head Explains Why\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-selling-pressure-cryptoquant-head-why\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-selling-pressure-cryptoquant-head-why\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/04\\\/kanchanara-GnWfl_nnZro-unsplash.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/04\\\/kanchanara-GnWfl_nnZro-unsplash.jpg?fit=6048%2C4024\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Keshav Verma\"}],\"creator\":[\"Keshav Verma\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin realized price\",\"bitcoin selling pressure\",\"bitcoin short-term holders\",\"bitcoin traders\",\"btc\",\"btcusd\",\"cryptoquant\"],\"dateCreated\":\"2024-04-19T23:00:23Z\",\"datePublished\":\"2024-04-19T23:00:23Z\",\"dateModified\":\"2024-06-11T08:08:28Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/04\/kanchanara-GnWfl_nnZro-unsplash.jpg?fit=6048%2C4024","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/604043","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/542"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=604043"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/604043\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/604053"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=604043"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=604043"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=604043"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}