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Bitcoin Approaches $109k: Short-Term Holder Sentiment Shifts

  • Short-term holder sentiment for Bitcoin has shifted as over 90% of supply is back in profit.
  • A ratio above 9.0 can indicate market risk due to potential profit-taking and slowing demand.
  • Monitoring the behavior of short-term holders is crucial to gauge demand exhaustion and potential market trends.
  • Recent surge in short-term holders' realized profit suggests increased profit-taking, with historical data showing stronger pressure near Bitcoin's all-time high.

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