Analyst warning: Pay attention to Bitcoin (BTC) in the short term!

According to onchain data, short-term investors have started to play a more important role in the direction of Bitcoin (BTC).

Bitcoin investors can be classified as short-term holders (STH) and long-term holders (LTH). Long-term holders are associated with BTC addresses that have held Bitcoin for 155 days or longer, while short-term holders are individuals who hold for less than the specified time frame above.

The recent price movements of Bitcoin appear to be more dependent on short-term investors. Burak Kesmeci, a CryptoQuant analyst, stated that if BTC falls below 61,600 dollars, STHs may panic sell.

If BTC falls below $61,600, the danger increases.

The analyst stated that the current average cost for short-term Bitcoin holders for 1-3 months and 3-6 months is $61,633 and $64,459, respectively. As seen in the chart, the price is currently consolidating within this particular range and is waiting for a breakout. Kesmeci stated that if $64,500 is surpassed, the bulls could take control. Additionally, he said:

If lost from the average cost of 61.6 thousand, which is the 1-3 month BTC investor, things will get even harder.

Falling below $61,600 could lead to panic selling by short-term investors. Data from CryptoQuant shows that HODLers have made almost no profit. The STH Unrealized Profit/Loss Cohort (STH-NUPL) chart is just above 0, indicating that most short-term holders are currently not making a profit.

This article does not contain investment advice or recommendation. Every investment and trading transaction carries risk and readers should conduct their own research when making decisions.