Key insights reveal that short-term Bitcoin holders sold 15,000 BTC at a loss this week, as market conditions remain subdued due to geopolitical tensions and uncertainty surrounding the FOMC. Onchain data indicates a potential price bottom for Bitcoin in the $97,000 to $94,000 range. Notably, 959 BTC were sold at a loss on Monday, escalating to 16,700 BTC by Wednesday, coinciding with a price drop from $106,500 to $103,500. This behavior highlights a trend where short-term holders, often referred to as 'weak hands,' panic-sell during downturns, leading to increased selling activity. As these weaker hands exit, their coins typically transition to long-term holders, or 'strong hands,' which helps stabilize the market. The overall supply held by short-term holders has decreased, suggesting a potential price floor. Current data indicates a negative spot volume delta, hinting at ongoing selling pressure despite a recent price rebound, with a possible dip before a significant breakout. Read more AI-generated news on: https://app.chaingpt.org/news

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