Analysis: Bitcoin's recent price movement is being suppressed by selling pressure from holders with 3-6 month positions
PANews reported on January 22 that, according to Glassnode analysis, bitcoin recently attempted to break through the short-term holders’ (STH) cost basis ($98,400), but this move was suppressed by selling pressure from holders with a 3-6 month holding period. The average cost basis for this group is around $112,600, and they increased their selling as the price rose, realizing significant losses and thereby dragging down the upward momentum.
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