Bitcoin continues to struggle with heightened bearish pressure, and a subtle but crucial shift is currently emerging in the market. Currently, BTC’s downside price action has begun to reflect changes in its demand dynamics.
BTC Held At Loss Matching Past Levels In 2015, it was 5.96 million BTC, in 2019, it was 5.8 million BTC, while in 2022, it was 6.8 million BTC. It is worth noting that the most severe discomfort was felt by LTHs during the last cycle. Nonetheless, the recent 52% decline in Bitcoin is still significantly lower than what was observed in earlier bear markets.
In the following 3 to 4 days, Darkfost noted that a number of LTH-related measures on platforms that use a 6-month threshold may also begin to move quickly. At that point, these BTC, which moved around $84,500, will officially shift from STH to LTH supply.
