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Analyst: Short-term Bitcoin holders have not yet taken significant profits to form selling pressure, and upward momentum is still accumulating

Analyst: Short-term Bitcoin holders have not yet taken significant profits to form selling pressure, and upward momentum is still accumulating

CointimeCointime2025/05/06 08:12
By:Cointime

On May 6th, CryptoQuant analyst Axel Adler Jr. posted on social media that short-term Bitcoin holders (holding for 1 to 3 months) represent the most aggressive market participants, including professional speculators trading Bitcoin through ETF brokers. In the current bull market cycle, their Net Unrealized Profit/Loss (NUPL) usually rises to over 40%, after which they start taking profits, leading to selling pressure in the spot market.

Currently, this group's NUPL is at 8%, with its 30-day Simple Moving Average (SMA) still in negative territory, maintaining at -2%. Before the NUPL breaks above 40%, the selling pressure from this group will remain at a lower level, which is seen as a bullish signal.

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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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