The current Bitcoin market is still below historical highs, but recent data show a decrease in selling pressure from short-term investors.
SOPR and UTXO Analysis Shows Reduced Selling
Data from the SOPR chart and UTXO age band (1-3 months) indicate a reduction in Bitcoin sales by short-term investors. These metrics help understand how holders, who own Bitcoin for this short period, behave in the market.
Why Are Short-Term Investors Holding Bitcoin?
The analysis reveals that short-term Bitcoin holders are refraining from selling, indicating confidence in the market's future prospects. Experts predict a potential sharp shift in the current trend, with increased interest in long-term accumulation supporting possible price increases.
Will Bitcoin Grow Amid Selling Decline?
Technical indicators, such as RSI and moving averages, suggest potential growth. The market rose 3.08% yesterday, and historical data shows April is a favorable month for Bitcoin increases.
Reduced selling pressure and positive market signals suggest that Bitcoin may see price growth in the near future.
