Bitcoin’s short-term holders (STHs) last moved into sustained loss realization during January 2025, a period that marked the deepest correction of this cycle. Since then, the market has largely recovered, with STHs consistently selling in profit as BTC advanced toward the six-figure zone.
Now, for the first time since that January drawdown, STH-SOPR multiples have slipped back below 1, indicating that short-term investors are once again realizing losses.
Historically, this shift has carried two possible implications:
🟥 Weakening Momentum → Extended loss realization often precedes corrective phases where speculative holders exit.
🟩 Healthy Reset → Brief dips below 1 can flush out weak hands, clearing the path for more sustainable rallies.
With Bitcoin consolidating under heavy resistance, this loss-selling event becomes a critical barometer of market health. If absorbed quickly, it could mirror past resets that fueled strong rebounds. If not, it risks signaling a momentum breakdown.
Written by Kripto Mevsimi
