{"id":647202,"date":"2024-10-10T12:00:49","date_gmt":"2024-10-10T12:00:49","guid":{"rendered":"https:\/\/ktsl888.com\/?p=647202"},"modified":"2024-10-09T18:22:03","modified_gmt":"2024-10-09T18:22:03","slug":"analyst-warns-of-bitcoin-market-shift-are-we-near-a-major-sell-off","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/bitcoin-news\/analyst-warns-of-bitcoin-market-shift-are-we-near-a-major-sell-off\/","title":{"rendered":"Analyst Warns Of Bitcoin Market Shift: Are We Near A Major Sell-Off?"},"content":{"rendered":"

Bitcoin has recently seen quite an interesting trend in its key metrics suggesting a significant movement ahead, according to a post<\/a> by CryptoQuant analyst Amr Taha.<\/p>\n

The post, shared on the CryptoQuant QuickTake platform, highlights notable changes in both long-term and short-term holder behaviour of Bitcoin, as well as in realized profit and loss figures.<\/p>\n

Related Reading: Bitcoin\u2019s Non-Realized Profits Hit Negative Levels\u2014What Does This Mean for Investors?<\/a><\/div>\n

Key Bitcoin Metrics Suggesting Market Shifts<\/h2>\n

Taha begins by explaining the fundamental difference between short-term and long-term Bitcoin holders. Short-term holders (STH) are traders who engage in brief buying and selling activities, often employing strategies like day trading or swing trading to capitalize on Bitcoin\u2019s price fluctuations<\/a>.<\/p>\n

On the other hand, long-term holders (LTH) adopt a buy-and-hold strategy, aiming for long-term gains by holding onto their Bitcoin for extended periods<\/a>. This distinction sets the stage for understanding the recent changes in market activity.<\/p>\n

In his analysis, Taha noted a sharp decline in the realized capitalization for long-term holders, which dropped from $19 billion to -$5 billion. This indicates that long-term holders have been taking profits or closing their positions, potentially signalling reduced confidence in further price gains<\/a>.<\/p>\n

\"Bitcoin
Bitcoin holders metric. | Source: CryptoQuant<\/figcaption><\/figure>\n

On the flip side, short-term holders have increased their buying activity, with their realized capitalization rising from -$17 billion to $11 billion. This suggests that short-term traders either take on more risk or bet on potential price increases, creating a more volatile market environment<\/a>.<\/p>\n

Additionally, Taha touched on the Korea Premium Index, often called the \u201cKimchi Premium.\u201d This index tracks the price difference between Bitcoin traded on South Korean and global exchanges.<\/p>\n

Currently, the index is near zero or negative, meaning Bitcoin is trading at a lower price in South Korea than the rest of the world.<\/p>\n

\"Bitcoin
Bitcoin Korea premium index. | Source: CryptoQuant<\/figcaption><\/figure>\n

This implies reduced buying pressure from Korean traders, who have historically played a large role in increasing cryptocurrency prices due to the local trading culture. A negative premium suggests low demand from South Korean investors, potentially adding to the market\u2019s uncertainty.<\/p>\n

Net Realized Profit And Loss Trends<\/h2>\n

Another key metric Taha focused on is Bitcoin\u2019s net realized profit and loss (NRPL)<\/a>, which tracks market participants’ total net profit or loss.<\/p>\n

Positive NRPL values indicate that more investors are taking profits, while negative values suggest more losses are being realized. Currently, the NRPL is approaching a critical $4 billion mark.<\/p>\n

Related Reading: Bitcoin Price Forecast: This Week\u2019s Trends And Historical Patterns For Q4<\/a><\/div>\n

Taha highlighted that crossing the $4 billion threshold in past market cycles has often coincided with significant market peaks or troughs.<\/p>\n

\"Bitcoin
Bitcoin net realized profit and loss (NRPL). | Source: CryptoQuant<\/figcaption><\/figure>\n

The red line marking the $4 billion level across the chart (above) represents a key point of market activity. According to the analyst, when NRPL crosses this line, it can indicate a surge in trading activity as more investors either lock in their profits or cut their losses.<\/p>\n

Taha further pointed out that these points have historically been pivotal moments in Bitcoin\u2019s price action, and the current proximity to this level suggests that another significant market movement could be on the horizon.<\/p>\n

\"Bitcoin
BTC price is moving downwards on the 1-hour chart. Source: BTC\/USDT on TradingView.com<\/a><\/figcaption><\/figure>\n

Featured image created with DALL-E, Chart from TradingView<\/p>\n","protected":false},"excerpt":{"rendered":"

Bitcoin has recently seen quite an interesting trend in its key metrics suggesting a significant movement ahead, according to a post by CryptoQuant analyst Amr Taha. The post, shared on the CryptoQuant QuickTake platform, highlights notable changes in both long-term and short-term holder behaviour of Bitcoin, as well as in realized profit and loss figures. Related Reading: Bitcoin\u2019s Non-Realized Profits Hit Negative Levels\u2014What Does This Mean for Investors? Key Bitcoin Metrics Suggesting Market Shifts Taha begins by explaining the fundamental difference between short-term and long-term Bitcoin holders. Short-term holders (STH) are traders who engage in brief buying and selling activities, often employing strategies like day trading or swing trading to capitalize on Bitcoin\u2019s price fluctuations. On the other hand, long-term holders (LTH) adopt a buy-and-hold strategy, aiming for long-term gains by holding onto their Bitcoin for extended periods. This distinction sets the stage for understanding the recent changes in market activity. In his analysis, Taha noted a sharp decline in the realized capitalization for long-term holders, which dropped from $19 billion to -$5 billion. This indicates that long-term holders have been taking profits or closing their positions, potentially signalling reduced confidence in further price gains. On the flip side, short-term holders have increased their buying activity, with their realized capitalization rising from -$17 billion to $11 billion. This suggests that short-term traders either take on more risk or bet on potential price increases, creating a more volatile market environment. Additionally, Taha touched on the Korea Premium Index, often called the \u201cKimchi Premium.\u201d This index tracks the price difference between Bitcoin traded on South Korean and global exchanges. Currently, the index is near zero or negative, meaning Bitcoin is trading at a lower price in South Korea than the rest of the world. This implies reduced buying pressure from Korean traders, who have historically played a large role in increasing cryptocurrency prices due to the local trading culture. A negative premium suggests low demand from South Korean investors, potentially adding to the market\u2019s uncertainty. Net Realized Profit And Loss Trends Another key metric Taha focused on is Bitcoin\u2019s net realized profit and loss (NRPL), which tracks market participants’ total net profit or loss. Positive NRPL values indicate that more investors are taking profits, while negative values suggest more losses are being realized. Currently, the NRPL is approaching a critical $4 billion mark. Related Reading: Bitcoin Price Forecast: This Week\u2019s Trends And Historical Patterns For Q4 Taha highlighted that crossing the $4 billion threshold in past market cycles has often coincided with significant market peaks or troughs. The red line marking the $4 billion level across the chart (above) represents a key point of market activity. According to the analyst, when NRPL crosses this line, it can indicate a surge in trading activity as more investors either lock in their profits or cut their losses. Taha further pointed out that these points have historically been pivotal moments in Bitcoin\u2019s price action, and the current proximity to this level suggests that another significant market movement could be on the horizon. Featured image created with DALL-E, Chart from TradingView<\/p>\n","protected":false},"author":580,"featured_media":647227,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[88240],"tags":[428,441,629,6848,1119,89379,78790,83531],"class_list":["post-647202","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news","tag-bitcoin","tag-bitcoin-analysis","tag-bitcoin-market","tag-bitcoin-price-prediction","tag-btc","tag-btc-market","tag-btcusdt","tag-cryptoquant"],"acf":[],"yoast_head":"\nAnalyst Warns Of Bitcoin Market Shift: Are We Near A Major Sell-Off?<\/title>\n<meta name=\"description\" content=\"Bitcoin has recently seen quite an interesting trend in its key metrics suggesting a significant movement ahead, according to a post...\" \/>\n<meta name=\"robots\" content=\"index, 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A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events\u2014like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ\u2019s arrest\u2014has honed his keen sense of market dynamics. When he isn\u2019t crafting engaging crypto content, you\u2019ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he\u2019s catching some Z\u2019s or scrolling through Elon Musk\u2019s very own X platform\u2014(oops, another screen activity, my bad\u2026) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters\u2014(don\u2019t judge, that\u2019s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or \u201ckaizen,\u201d striving to be 1% better every day. His mantras, \u201cGod knows best\u201d and \u201cEverything is still on track,\u201d reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He\u2019s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck\u2014unflappable. Edyme is like trading in your car for a jet\u2014bold. He\u2019s the guy who\u2019d ask his boss for a pay cut just to prove a point\u2014(uhhh\u2026). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent\u2014okay, maybe that\u2019s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. Screw it, he ate the opp.","sameAs":["https:\/\/x.com\/0xEdyme"],"url":"https:\/\/ktsl888.com\/author\/samueledymeabayomi\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Analyst Warns Of Bitcoin Market Shift: Are We Near A Major Sell-Off?","url":"http:\/\/ktsl888.com\/bitcoin-news\/analyst-warns-of-bitcoin-market-shift-are-we-near-a-major-sell-off\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/ktsl888.com\/bitcoin-news\/analyst-warns-of-bitcoin-market-shift-are-we-near-a-major-sell-off\/"},"thumbnailUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/10\/DALL\u00b7E-2024-10-09-19.02.09-A-digital-illustration-depicting-a-potential-market-shift-for-Bitcoin-with-a-warning-about-a-possible-major-sell-off.-The-image-features-the-Bitcoin-.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/10\/DALL\u00b7E-2024-10-09-19.02.09-A-digital-illustration-depicting-a-potential-market-shift-for-Bitcoin-with-a-warning-about-a-possible-major-sell-off.-The-image-features-the-Bitcoin-.jpg?fit=1024%2C1024"},"articleSection":"Bitcoin News","author":[{"@type":"Person","name":"Samuel Edyme"}],"creator":["Samuel Edyme"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin analysis","bitcoin market","bitcoin price prediction","btc","btc market","btcusdt","cryptoquant"],"dateCreated":"2024-10-10T12:00:49Z","datePublished":"2024-10-10T12:00:49Z","dateModified":"2024-10-10T12:00:49Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Analyst Warns Of Bitcoin Market Shift: Are We Near A Major Sell-Off?\",\"url\":\"http:\\\/\\\/ktsl888.com\\\/bitcoin-news\\\/analyst-warns-of-bitcoin-market-shift-are-we-near-a-major-sell-off\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/ktsl888.com\\\/bitcoin-news\\\/analyst-warns-of-bitcoin-market-shift-are-we-near-a-major-sell-off\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2024\\\/10\\\/DALL\\u00b7E-2024-10-09-19.02.09-A-digital-illustration-depicting-a-potential-market-shift-for-Bitcoin-with-a-warning-about-a-possible-major-sell-off.-The-image-features-the-Bitcoin-.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2024\\\/10\\\/DALL\\u00b7E-2024-10-09-19.02.09-A-digital-illustration-depicting-a-potential-market-shift-for-Bitcoin-with-a-warning-about-a-possible-major-sell-off.-The-image-features-the-Bitcoin-.jpg?fit=1024%2C1024\"},\"articleSection\":\"Bitcoin News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Samuel Edyme\"}],\"creator\":[\"Samuel Edyme\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin analysis\",\"bitcoin market\",\"bitcoin price prediction\",\"btc\",\"btc market\",\"btcusdt\",\"cryptoquant\"],\"dateCreated\":\"2024-10-10T12:00:49Z\",\"datePublished\":\"2024-10-10T12:00:49Z\",\"dateModified\":\"2024-10-10T12:00:49Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/ktsl888.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/10\/DALL\u00b7E-2024-10-09-19.02.09-A-digital-illustration-depicting-a-potential-market-shift-for-Bitcoin-with-a-warning-about-a-possible-major-sell-off.-The-image-features-the-Bitcoin-.jpg?fit=1024%2C1024","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/647202"}],"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\/580"}],"replies":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/comments?post=647202"}],"version-history":[{"count":3,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/647202\/revisions"}],"predecessor-version":[{"id":647230,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/647202\/revisions\/647230"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media\/647227"}],"wp:attachment":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media?parent=647202"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/categories?post=647202"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/tags?post=647202"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}