Bitcoin Faces Increased Selling Pressure as Short-Term Holders Sell at a Loss

According to BlockBeats, CryptoQuant analyst @AxelAdlerJr has reported that Bitcoin's price has fallen below the average purchase price of short-term holders, as indicated by the STH-SOPR (30D) metric, which has dropped to 0.98. This suggests that selling pressure from new market participants is rising. The SOPR 30D metric assesses the average token sales of short-term holders, with values above 1 indicating profitable sales and values below 1 indicating sales at a loss. The chart reveals that the 30-day SOPR moving average has declined to the 0.98 region, signifying that short-term holders are, on average, selling tokens at a loss. A further decline in this metric could intensify selling pressure and lead to new local lows. Currently, the market exhibits a strong risk-averse sentiment among short-term holders. A key reversal confirmation signal would be a price recovery above the actual price for short-term holders and a SOPR increase above 1.