Bitcoin Briefly Dips Below $100K, Short-Term Holders Face Mounting Losses

Bitcoin price briefly fell below the $100,000 mark during Monday’s trading session, triggering selling pressure among short-term holders (STHs). Despite a swift recovery to $102,691 at press time, on-chain data indicates that STHs are still offloading their holdings at a loss, highlighting market uncertainty.

Short-Term Holders Selling at a Loss Amid Market Volatility

Recent data from CryptoQuant reveals that Bitcoin’s Spent Output Profit Ratio (STH-SOPR) has been on a downward trajectory, dropping below the critical 1.0 threshold. As of this writing, the metric stands at 0.99, confirming that investors holding BTC for less than six months are, on average, selling at a loss.

The STH-SOPR metric helps gauge the profitability of short-term holders. A value above 1.0 suggests that most are selling at a profit, while a figure below 1.0 indicates losses. The continued decline reflects growing unease among market participants, even as BTC’s price rebounds from its latest dip.

Adding to the bearish sentiment, Bitcoin’s weighted sentiment metric—which tracks the overall social media outlook—currently sits at -0.48, signaling persistent negative bias in the market. This trend suggests that traders remain cautious, anticipating further fluctuations in BTC’s price trajectory.

Will Bitcoin Reclaim $109K or Slip Below $100K?

The big question now is whether Bitcoin can reclaim its recent high of $109,000, or if increased selling pressure will drive it back below the $100K mark. If bearish sentiment continues to dominate, BTC could slip to $99,378, erasing recent gains.

However, if bullish momentum picks up, breaking above the $104,500 resistance level could pave the way for BTC to challenge the $109,000 threshold once again. Traders are closely watching the Relative Strength Index (RSI) and trading volume to assess whether momentum is building for another upward move.

The coming days will be crucial in determining Bitcoin’s next major move, with short-term holders playing a key role in influencing near-term price action.

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