Only 13.5% of BTC in the wallets of short-term holders (STH) is currently in profit. About 86.5% is at a loss.



The market is still in a strong zone of “unrealized pain”: Bitcoin’s recovery hasn’t affected most short-term investors. This pattern is typical of the late stage of a bear market, but this metric can remain below 20% for months.

A positive signal will appear when the share of STH in profit becomes firmly established above 20% and starts moving toward 40-50%.
BTC0.04%
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