Analysis from CryptoQuant shows that long-term Bitcoin investors are maintaining stable profit positions, reinforcing confidence and patience in the market.
Short-term Bitcoin investors have low fluctuating profits, reflecting selling pressure or short-term trading during price increases. The Bitcoin price is currently stable around $104,000, mainly thanks to the steadfast confidence from long-term investors.
MAIN CONTENT
Long-term Bitcoin investors maintain healthy profits with NUPL above 0.5.
Short-term investors have low profits, easily facing selling pressure during price increases.
The Bitcoin price is currently around $104,000, supported by the confidence of long-term investors.
How are long-term Bitcoin investors performing in terms of profit?
According to analyst Abramchart from CryptoQuant, long-term Bitcoin investors are currently in a good profit state with the NUPL (Net Unrealized Profit/Loss) index above 0.5, indicating they are making profits and have a strong mindset.
This demonstrates the confidence and patience of long-term investors in the bullish outlook for Bitcoin in the future, limiting the risk of significant sell-offs from this group. The NUPL index at this level is assessed positively in on-chain financial reports.
What are the profit fluctuations and behaviors of short-term Bitcoin investors?
Conversely, short-term investors are experiencing relatively low profits, with fluctuations around unstable profit levels, reflecting short-term selling pressure as Bitcoin prices rise sharply.
This contributes to creating slight adjustments in the market as short-term investors tend to take profits early or are strongly affected by price volatility. Pressure from this group is a factor to consider when forecasting adjustments.
What is the current Bitcoin price situation and what support is coming from which group of investors?
The Bitcoin price maintains around $104,000, considered a strong support level thanks to the steadfast confidence from long-term investors, laying the foundation for an overall sustainable bullish trend.
Although there are minor adjustments due to pressure from short-term investors, support from long-term investors helps Bitcoin prices maintain an upward trend and reduce significant shocks in the current market.
The confidence and steadfastness of long-term investors are key to reinforcing a sustainable bullish outlook for Bitcoin in 2024.
Abramchart, CryptoQuant analyst, August 2024
Frequently Asked Questions
What is the NUPL index and what does it mean in Bitcoin analysis?
NUPL measures the unrealized profits of investors, indicating the profitability of Bitcoin in the market, reflecting the sentiment and buying-selling behavior of holding groups.
Why do short-term investors have lower profits than long-term investors?
Short-term investors often face pressure to take profits and rapid price fluctuations, while long-term investors patiently hold their assets to achieve greater gains over time.
Is the Bitcoin price maintaining around $104,000 a positive signal?
This is a stable price level thanks to the enduring confidence of long-term investors, indicating that the market continues to maintain an upward trend and limit excessive volatility.
How can long-term investors help stabilize the market?
By holding Bitcoin long-term, they create a liquidity base and reduce the risk of significant sell-offs, contributing to lower volatility in the cryptocurrency market.
What impact can pressure from short-term investors have on Bitcoin prices?
Short-term investors can cause slight adjustments due to quick profit-taking behavior, but they rarely change the long-term bullish trend.
Source: https://tintucbitcoin.com/bitcoin-tien-gan-moc-104-000-usd/
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