Bitcoin sell-side risk returns to rare lows as $80K sellers fade from view
Bitcoin’s sell-side risk has fallen back near historic lows as August profit-taking fades. Glassnode says the Bitcoin sell-side risk ratio dropped from 16 when BTC traded above $80,000 in late August to about 7 this week, one of the lowest readings on record. Lower readings usually signal accumulation phases and relatively low sell pressure. Onchain data shows the August rebound drew relatively little supply, and long-term holders are realizing profits at a much slower rate: their share of realized profit fell from 88% at the August peak to 47% in September. Recent buyers are now the main sellers, but they are selling less. The low SSRR suggests a modest price pullback may be less likely to trigger panic selling. Glassnode also says US spot Bitcoin ETF investors would return to profit around $86,000, while they currently sit on about $3.9 billion in paper losses.
