Bitcoin price volatility leads to losses exceeding 70,000, short-term holders face urgency to sell

The situation has taken an unexpected turn as the price of Bitcoin has fallen below the critical point of $70,000, triggering panic among short-term holders (STH). These investors (referring to those holding BTC for less than 155 days) reacted swiftly, liquidating a portion of their positions on exchanges. According to Glassnode, on October 31 alone, the cryptocurrency market witnessed approximately 54,352 BTC (equivalent to about $3.76 billion) being transferred to exchanges. This marks the largest sell-off since April, indicating a significant shift in trader sentiment.

The profit outlook for short-term holders is rapidly deteriorating. Glassnode reports that the spent output profit ratio (SOPR) has dropped below 1.01, indicating that most holders are currently selling at a loss. This sharp decline from nearly 1.04 two days ago reflects the pervasive fear in the market. The urgency to liquidate positions may stem from declining profit margins, prompting many STH to take action in the face of heightened price volatility. #美国大选后行情预测 #你问我答 #下一BTC历史新高是多少？ #市场关注美国非农数据