Bitcoin hodler net position change-a metric from Glassnode that tracks the 30-day average accumulation by wallets holding BTC for more than 155 days-reached a peak of 46,462 BTC on March 15. However, on March 26, the figure dropped to 35,278 BTC, a loss of about 24%.
Despite a slight recovery since March 24, the overall trend since mid-March still shows a decline. This group of medium-term holders, often considered the foundation of market conviction, started to reduce their accumulation rate even though Bitcoin price is still moving in an upward channel.This behavior indicates that they are not yet fully convinced that the rebound reflects continued upside potential.
On the short-term holder side, there is an additional layer of risk. The short-term holder net unrealized profit/loss (NUPL) indicator, which measures the aggregate level of profitability for wallets with BTC holdings of less than 155 days, currently stands at -0.21. This puts it in the capitulation zone.
However, when Bitcoin hit $62,800 in early February, the NUPL had dropped to -0.47, indicating a much deeper state of capitulation. The current level of -0.21, despite the price being only slightly higher at $68,500, indicates that short-term holders are now incurring much smaller losses than at the February low.
#BitcoinPrices #TrumpSaysIranWarHasBeenWon #US-IranTalks #Trump's48HourUltimatumNearsEnd