Bitcoin has been unable to reach its all-time HIGH of 108,230 USD. As a result, short-term holders are experiencing reduced profitability, leading many to sell at a loss. The Short-Term Holder Spent Output Profit Ratio has been declining, indicating a challenging market environment for these investors.
Current market conditions suggest that if demand does not increase, Bitcoin’s price might experience a drop to approximately 91,488 USD. In contrast, if there is a resurgence in demand, Bitcoin’s price could move back over 100,000 USD, approaching its previous HIGH.
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