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BTC Market tensions have intensified, and short-term bitcoin holders face challenges
Bitcoin's recent fall in price to around US$64000 has raised concerns among short-term investors. This trend has made key technical support levels the focus of market attention. As markets respond to price fluctuations, the market value of short-term holders of Bitcoin has plunged to $236.2 billion, the lowest level since mid-2024. CryptoQuant's data shows that selling pressure is intensifying, especially on investors who have recently entered the market.
What factors are affected by short-term Bitcoin holders?
The continued decline in the market value of short-term holders reflects the continuation of losses, with net realized profits still negative. This situation suggests that investors who have entered Bitcoin's recent volatility are under tremendous pressure. On-chain data shows that many recent buyers are selling at losses, and the actual losses amplified during the market correction further confirm this trend.
Can Bitcoin stabilize above key support levels?
From a technical analysis perspective, whether Bitcoin can remain above a clear support level will determine its short-term trend. Analysts are paying close attention to the key level of $63800, which is an important support anchor according to Ali Charts 'analysis. If it can successfully stabilize here, Bitcoin may hit US$67000; otherwise, US$60000 will become the next important line of defense.
Falling below $63800 will have more impact. Failure to hold on to this support may trigger a deeper decline, and the target will point to the next key level in the $60000 range.
From a technical perspective, the US$63,800 - 62,400 range is of great significance. Market analyst Titan emphasized that the region will determine the direction of short-term trends. Once Bitcoin falls below the daily Tenkan line, the Kijun line at $62400 may become the next defensive position.
The market value of short-term holders is US$236.2 billion, a multi-year low.
The key support levels are locked at US$63800 and US$62400.
If the support level is lost, US$60000 will become the target.
The one-week option skew is about 4%, and the long-term skew is between 11% and 12%.
Finally, Bitcoin's short-term fate depends on its performance at these critical nodes. Markets will wait and see whether Bitcoin can stabilize and provide breathing space for stressed investors, or whether further downward pressure will redefine its short-term trend.
