Bitcoin’s weekend dip shakes out short-term holders
Summary
The Bitcoin market recently saw a significant dip, with prices falling from $70,090 to $64,400 before stabilizing around $66,000. Short-term Bitcoin holders reacted by quickly selling off their Bitcoin at a loss, as shown by a sharp decrease in their SOPR metric. In contrast, long-term holders remained resilient during the downturn. The reactions of these two groups are often indicative of future market trends.
