Can Bitcoin stabilize below $90K amid short-term holders profit-taking? – BitRss

• Bitcoin short-term holders were still selling their coins at a high profit suggesting a correction could be in play.
• However, Funding Rate, Premium and OI fractal for 2024  suggested that BTC could hit a peak of $160k if it rebounds.

The values of Spent Output Profit Ratio (SOPR) for Bitcoin [BTC] short-term holders (STH) were high indicating that STHs were selling at a profit, often aligning with price highs.

However, if SOPR dipped below 1, this reflected selling at a loss, usually corresponding to price corrections or declines in the market.

This consistent profit-taking by short-term holders could predict potential adjustments. If demand were to wane while profit-taking remained high, price could face downward pressure, leading to corrections.