@ninjanuj

I was looking at that long term holders ( LTH) chart and after digging into it to understand whatz actually going on, this is basically what I comprehend Long term holders ( the old wallets + even ETFs ) are still selling a bit. Thatz what those red bars basically mean. ETFs also get counted as long term after 5 months approx, so when they get outflows, it shows up as LTH selling too. On the other side, most short term buyers bought way higher (around 106-107k), so they are kindaa trapped and sitting in losses. Obviously they are not in a mood to buy more or take big risks. So the market ends up in this awkward zone where, old holders are taking profits / newer buyers are underwater / price just keeps drifting without a clear direction. Thatz why it feels like BTC is jus stuck. Not really bearish, not fully bullish either. Just waiting for someone to finally flip the momentum. That’s pretty much the whole story.

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