{"id":508304,"date":"2022-10-29T05:58:28","date_gmt":"2022-10-29T05:58:28","guid":{"rendered":"https:\/\/ktsl888.com\/?p=508304"},"modified":"2024-06-11T08:34:26","modified_gmt":"2024-06-11T08:34:26","slug":"bitcoin-declines-short-term-holders-take-profits","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-declines-short-term-holders-take-profits\/","title":{"rendered":"Bitcoin Declines Slightly As Short-Term Holders Take Profits"},"content":{"rendered":"

After surging to as high as $20.9k, Bitcoin has today observed a slight decline back into the low $20k levels as a result of profit taking from short-term holders.<\/p>\n

Bitcoin Short-Term Holder SOPR Has Been Elevated Over The Past Two Days<\/h2>\n

As pointed out by an analyst in a CryptoQuant post<\/a>, the short-term holders seem to be using the latest price rise for profit taking.<\/p>\n

The relevant indicator here is the “Spent Output Profit Ratio<\/a>” (SOPR), which tells us whether the average investor is selling Bitcoin at a profit or at a loss right now.<\/p>\n

When the value of this metric is greater than 1, it means the overall market is realizing some amount of profit currently. On the other hand, values below the threshold suggest the holders as a whole are selling at a loss<\/p>\n

Naturally, values of the SOPR exactly equal to one suggest that the investors are just breaking even on their selling at the moment.<\/p>\n

Related Reading: Why Crypto Market Fear Mirrors Lull In Volatility<\/a><\/div>\n

Now, there is a cohort in the Bitcoin market called the “short-term holders<\/a>” (STHs), which includes all investors who have been holding their coins since less than 155 days ago.<\/p>\n

Here is a chart that shows the trend in the BTC SOPR specifically for this holder group over the last couple of weeks:<\/p>\n

\"Bitcoin<\/p>\n

The value of the metric seems to have spiked up in recent days | Source: CryptoQuant<\/a><\/pre>\n
As you can see in the above graph, the Bitcoin STH SOPR has been elevated above the 1 level during the last two days or so.<\/p>\n
This rise has coincided with the BTC price finally surging up after moving sideways around $19k for a long while. This suggests that these investors are using this opportunity to harvest some profits.<\/p>\n
Related Reading:  The Inverted Bitcoin Chart Bears Don\u2019t Wanna See | BTCUSD Analysis October 27, 2022<\/a><\/div>\n
Such profit-taking is generally bearish for the price of the crypto, and as the chart displays, there were three instances of this kind of trend during the past two weeks. All of those profit realization sprees from the STHs resulted in the price going back down after a short-term rise.<\/p>\n
This time as well the BTC price has gone down from its high of $20.9k to as low as below $20.1k. before retracing back up some to the current level.<\/p>\n
BTC Price<\/h2>\n
At the time of writing, Bitcoin’s price<\/a> floats around $20.5k, up 8% in the last seven days. Over the past month, the crypto has gained 7% in value.<\/p>\n
Below is a chart that shows the trend in the price of the coin over the last five days.<\/p>\n
\"Bitcoin<\/p>\n
Looks like the value of the crypto has gone down over the last couple of days | Source: BTCUSD on TradingView<\/a><\/pre>\n
Featured image from Unsplash.com, charts from TradingView.com, CryptoQuant.com<\/pre>\n","protected":false},"excerpt":{"rendered":"
After surging to as high as $20.9k, Bitcoin has today observed a slight decline back into the low $20k levels as a result of profit taking from short-term holders. Bitcoin Short-Term Holder SOPR Has Been Elevated Over The Past Two Days As pointed out by an analyst in a CryptoQuant post, the short-term holders seem to be using the latest price rise for profit taking. The relevant indicator here is the “Spent Output Profit Ratio” (SOPR), which tells us whether the average investor is selling Bitcoin at a profit or at a loss right now. When the value of this metric is greater than 1, it means the overall market is realizing some amount of profit currently. On the other hand, values below the threshold suggest the holders as a whole are selling at a loss Naturally, values of the SOPR exactly equal to one suggest that the investors are just breaking even on their selling at the moment. Related Reading: Why Crypto Market Fear Mirrors Lull In Volatility Now, there is a cohort in the Bitcoin market called the “short-term holders” (STHs), which includes all investors who have been holding their coins since less than 155 days ago. Here is a chart that shows the trend in the BTC SOPR specifically for this holder group over the last couple of weeks: The value of the metric seems to have spiked up in recent days | Source: CryptoQuant As you can see in the above graph, the Bitcoin STH SOPR has been elevated above the 1 level during the last two days or so. This rise has coincided with the BTC price finally surging up after moving sideways around $19k for a long while. This suggests that these investors are using this opportunity to harvest some profits. Related Reading: The Inverted Bitcoin Chart Bears Don\u2019t Wanna See | BTCUSD Analysis October 27, 2022 Such profit-taking is generally bearish for the price of the crypto, and as the chart displays, there were three instances of this kind of trend during the past two weeks. All of those profit realization sprees from the STHs resulted in the price going back down after a short-term rise. This time as well the BTC price has gone down from its high of $20.9k to as low as below $20.1k. before retracing back up some to the current level. BTC Price At the time of writing, Bitcoin’s price floats around $20.5k, up 8% in the last seven days. Over the past month, the crypto has gained 7% in value. Below is a chart that shows the trend in the price of the coin over the last five days. Looks like the value of the crypto has gone down over the last couple of days | Source: BTCUSD on TradingView Featured image from Unsplash.com, charts from TradingView.com, CryptoQuant.com<\/p>\n","protected":false},"author":542,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,461,85496,84852,84438,85802,1119,1144],"class_list":["post-508304","post","type-post","status-publish","format-standard","hentry","category-news","tag-bitcoin","tag-bitcoin-bearish","tag-bitcoin-profit-taking","tag-bitcoin-short-term-holders","tag-bitcoin-sopr","tag-bitcoin-sth-sopr","tag-btc","tag-btcusd"],"acf":[],"yoast_head":"\nBitcoin Declines Slightly As Short-Term Holders Take Profits<\/title>\n<meta name=\"description\" content=\"After surging to as high as $20.9k, Bitcoin has today observed a slight decline back 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Keshav completed his Physics degree in 2022 and has been focusing on his writing career since, but that doesn\u2019t mean his passion for Physics has ended. He eventually plans to re-enter university to obtain a masters degree in the same field, but perhaps only to satiate his own interest rather than for using it as a means to find employment.. Keshav has found blockchain and its concepts fascinating ever since he started going down the rabbit-hole back in 2020. On-chain analysis in particular has been something he likes to research more about, which is why his NewsBTC pieces tend to involve it in some form. Being of the science background, Keshav likes if concepts are clear and consistent, so he generally explains the indicators he talks about in a bit of detail so that the readers can perhaps come out having understood and learnt something new. As for hobbies, Keshav is super into football, anime, and videogames. He enjoys football not only as a watcher, but also as a player. 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Keshav has been writing for many years, first as a hobbyist and later as a freelancer. He has experience working in a variety of niches, even fiction at one point, but the cryptocurrency industry has been the longest he has been attached to. In terms of official educational qualifications, Keshav holds a bachelor\u2019s degree in Physics from one of the premier institutes of India, the University of Delhi (DU). He started the degree with an aim of eventually making a career in Physics, but the onset of COVID led to a shift in plans. The virus meant that the college classes had to be delivered in the online-mode and with it came free time for him to explore other passions. Initially only seeking to make some beer money, Keshav unexpectedly landed clients offering real projects, after which there was no looking back. Writing was something he had always enjoyed and to be able to do it for a living was like a dream come true. Keshav completed his Physics degree in 2022 and has been focusing on his writing career since, but that doesn\u2019t mean his passion for Physics has ended. He eventually plans to re-enter university to obtain a masters degree in the same field, but perhaps only to satiate his own interest rather than for using it as a means to find employment.. Keshav has found blockchain and its concepts fascinating ever since he started going down the rabbit-hole back in 2020. On-chain analysis in particular has been something he likes to research more about, which is why his NewsBTC pieces tend to involve it in some form. Being of the science background, Keshav likes if concepts are clear and consistent, so he generally explains the indicators he talks about in a bit of detail so that the readers can perhaps come out having understood and learnt something new. As for hobbies, Keshav is super into football, anime, and videogames. He enjoys football not only as a watcher, but also as a player. For games, Keshav generally tends towards enjoying singleplayer adventures, with EA FC (formerly FIFA) being the only online game he is active in. Though, perhaps due to being ultra-focused on the game, he is today a semi-pro on the EA FC scene, regularly participating in tournaments and sometimes even taking back prize money. Because of his enthusiasm for anime and games, he also self-learned Japanese along the way to consume some of the untranslated gems out there. The skill didn\u2019t merely remain as just a hobby, either, as he put it to productive use during his exploration for small-time gigs at the start of COVID, fulfilling a couple of Japanese-to-English translation jobs. Keshav is also big into fitness, with agility and acceleration-related workouts making a big part of his program due to the relevance they have in football. On top of that, he also has a more traditional strength based program for the gym, which he does to maintain an overall fitness level of his body.","sameAs":["https:\/\/www.linkedin.com\/in\/keshavverma29\/","https:\/\/x.com\/https:\/\/twitter.com\/keshavvarma29"],"url":"https:\/\/ktsl888.com\/author\/hououinkyouma29\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Declines Slightly As Short-Term Holders Take Profits","url":"http:\/\/ktsl888.com\/news\/bitcoin-declines-short-term-holders-take-profits\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/ktsl888.com\/news\/bitcoin-declines-short-term-holders-take-profits\/"},"thumbnailUrl":"","image":{"@type":"ImageObject","url":""},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Keshav Verma"}],"creator":["Keshav Verma"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin bearish","bitcoin profit-taking","bitcoin short-term holders","bitcoin sopr","bitcoin sth sopr","btc","btcusd"],"dateCreated":"2022-10-29T05:58:28Z","datePublished":"2022-10-29T05:58:28Z","dateModified":"2024-06-11T08:34:26Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Declines Slightly As Short-Term Holders Take Profits\",\"url\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/bitcoin-declines-short-term-holders-take-profits\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/bitcoin-declines-short-term-holders-take-profits\\\/\"},\"thumbnailUrl\":\"\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Keshav Verma\"}],\"creator\":[\"Keshav Verma\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin bearish\",\"bitcoin profit-taking\",\"bitcoin short-term holders\",\"bitcoin sopr\",\"bitcoin sth sopr\",\"btc\",\"btcusd\"],\"dateCreated\":\"2022-10-29T05:58:28Z\",\"datePublished\":\"2022-10-29T05:58:28Z\",\"dateModified\":\"2024-06-11T08:34:26Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/ktsl888.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/508304"}],"collection":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/users\/542"}],"replies":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/comments?post=508304"}],"version-history":[{"count":0,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/508304\/revisions"}],"wp:attachment":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media?parent=508304"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/categories?post=508304"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/tags?post=508304"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}