The context: the term “Hodl” (from English Holding on to Dear Life), refers in the crypto sector to hold its digital assets in the long term, whatever the vagaries of the market. Hodlers are therefore long -term holders who keep their parts at all costs. Despite some attempts to increase, the price of the BTC remained stagnating, increasing the pressure on long -term holders (LTH), or Bitcoin holders. These investors, who once took advantage of solid benefits, now see a decrease in their unrealized gains. Bitcoin investors withdraw the difference in long/short MVRV, a key indicator used to assess the feeling of the market, reveals a worrying trend for certain Bitcoin holders. Indeed, the indicator has recently reached a two -year hollow, suggesting that the profits of long -term holders have been at their lowest level since March 2023. This change indicates that market conditions are becoming more and more unfavorable for LTHs. Thus, while the Bitcoin course fails to straighten up, short -term holders (STH) are starting to dominate, taking advantage of price fluctuations. Meanwhile, long -term holders (LTH), faced with downward profits, hesitate to buy or keep more. Difference MVRV Long/Bitcoin shorts. Source: Santly the overall ruling of Bitcoin, measured by technical indicators, also reflects lowering signals. The change in net position of the Bitcoin Hodlers reinforces this story, as it shows that the LTHs have sold a significant part of their assets in the past two weeks. In total, these sales have reached more than 6,596 BTC, a value of more than $ 550 million. Although this figure may not seem enormous, the psychological passage of confidence in prudence among LTHs is a source of concern. Indeed, this lack of conviction could delay the resumption of Bitcoin and contribute to prolonged stagnation of the course This could in turn limit market activity and worsen the current decline. Change of net position of Bitcoin Hodlers. Source: Glassnode The Bitcoin course is struggling to recover Bitcoin is currently negotiated at $ 84,421, is now just above the crucial support level of $ 82,619. The price remains trapped under the level of key resistance of $ 85,000, which could cause additional pressure if it cannot exceed it. If the asset loses the support at $ 82,619, a drop to the next major psychological support of $ 80,000 is possible. If the downward trend continues, the price could fall more, the $ 78,841 mark emerging as a critical level to monitor. Losing this support would indeed mark a more significant decline, confirming continuously weakness of the market and deepening the lowering perspectives for Bitcoin. Analysis of the Bitcoin course. Source: TradingView, however, if the BTC finally manages to cross and maintain the $ 85,000 mark as a support, this could trigger a recovery, pushing the price to $ 86,848. A sustained increase above $ 85,000 would then cancel the current downward trend and opened the way for a possible climb to $ 89,800, restoring confidence among Bitcoin investors. Morality of history: Bitcoin Hodlers fear more than a stagnate course. Notice of non-responsibility Non-responsibility notice: In accordance with the guidelines of The Trust Project, this article of price analysis is only intended for information purposes and should not be considered as financial or investment advice. Beincrypto undertakes to provide exact and impartial information, but market conditions may change without notice. Always carry out your own research and consult a professional before making any financial decision.
