Viewpoint: BTC falling below $106,000 will trigger panic among long-term holders, and the recent correction is not yet "in place"
BlockBeats News, on September 28, on-chain data analyst Murphy stated that if the BTC consolidation since August 13 is viewed as a major trend adjustment, it appears the adjustment is not yet "in place." So far, all losses have been contributed by short-term holders (STH), while the proportion of losses among long-term holders (LTH) remains at 0%. From this perspective, the current situation does not yet match the most panic-stricken moment in a downward trend.
On-chain data shows that the trigger point for long-term holder panic is not far off. The long-term holders with the highest holding costs are around $106,000, but the amount of chips they hold is limited. When BTC enters the $97,000 to $106,000 range, more and more long-term holders will fall into a loss position, which is likely to be the bottom range of a trend correction. This analysis is for learning and communication purposes only and does not constitute investment advice.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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