Will Bitcoin Price’s Drop To $86,000 Trigger These Holders’ Selling?
Bitcoin's drop to $86,000 coincides with short-term holders seeing profits, potentially triggering selling pressure.Summary
Bitcoin is trading under pressure near $86,000 due to bearish macroeconomic cues, raising concerns as short-term holders are realizing their first significant profits since early 2023. The MVRV Long/Short Difference has turned negative, indicating that short-term holders now possess more unrealized profit than long-term holders, historically leading to increased selling activity. Furthermore, the Bitcoin NVT Ratio has surged, suggesting the network is overheated with strong social enthusiasm but weak on-chain usage, which often precedes market corrections. BTC is currently holding just above the crucial $85,204 support level; a break below this could lead to a drop toward $82,503, while a successful bounce could target resistance at $89,800.
(Source：BeInCrypto)