Analyst: BTC short-term holders "capitulate," current market faces localized pressure
Jinse Finance reported that CryptoQuant analyst Axel Adler Jr stated on social media that the Bitcoin market is currently in a correction phase, having pulled back 30% from its all-time high. Two on-chain indicators—the Short-Term Holder Spent Output Profit Ratio (STH SOPR) and the Profit/Loss Block (P/L Block)—show that market participants are realizing losses and market sentiment is deteriorating. Short-term holders are exhibiting capitulation behavior, and the current market is facing localized pressure.
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