Analyst Amr Taha from CryptoQuant warns of potential significant shifts in the Bitcoin market. His analysis, shared on the CryptoQuant QuickTake platform, indicates changes in both long-term and short-term holder behavior as well as realized profit and loss figures.
Short-term holders, characterized by brief trading, are increasingly buying Bitcoin, potentially expecting price rises and increasing market volatility. However, long-term holders, who prefer buy-and-hold strategies, have shown reduced confidence by taking more profits.
Furthermore, the Korea Premium Index is near zero, indicating low Korean demand since Bitcoin is priced lower in South Korea. Historically, Koreans have influenced global crypto prices significantly.
Taha notes Bitcoin's net realized profit and loss is approaching a critical $4 billion, a level linked with past major market peaks or troughs. Passing this mark could indicate increased trading activity, suggesting that another significant market movement might occur soon.
