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Bitcoin short-term holders’ supply has taken a severe hit this year, while the asset itself wiped all the gains of ‘Uptober’ following several corrections and a failure to launch a meaningful rally.
Conversely, when the STH NUPL values are below 0, short-term holders may incur losses if they sell their coins, essentially signaling that the current market price is lower than the average acquisition price for this cohort. At the moment, the STH cohort is in unrealized losses.that the Net Unrealized Profit Loss metric for short-term holders is approaching zero, with current values at -0.024.
The crypto analytic platform further revealed that this level will play a pivotal role in the market, as many participants will be inclined to capitalize on their investment instead of HODling.
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