Glassnode's on-chain data reveals that Bitcoin's short-term holders are currently experiencing 55.6 times more profits than losses. The "realized profit/loss ratio" measures the ratio of profits and losses that Bitcoin investors are currently harvesting through selling. Short-term holders, who have held their coins for less than 155 days, are particularly interested in this indicator.
The 7-day exponential moving average of Bitcoin short-term holders' realized profit/loss ratio has been above 1 recently, indicating that profit-taking is greater than loss-taking. The level of 1 has historically acted as support during bullish periods and resistance during bearish periods.
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