#TopContentChallenge# Glassnode emphasized that the attitude of short-term investors towards losses during the correction period following Bitcoin's all-time high of (ATH) is critical in determining the direction of the price. The company noted that there has been a significant accumulation of supply in the range of 113,000–120,000 dollars since the beginning of July, and this is largely attributed to short-term investors.

In the analysis, it was stated that the SOPR (Spent Output Profit Ratio) by Age metric was monitored to understand the behaviors of this investor group. According to Glassnode data, the SOPR value of short-term investors is currently fluctuating between 0.96 – 1.01. This indicates that investors are realizing slight losses. However, it was emphasized that in the event of increased pressure, panic sales usually occur with SOPR dropping below 0.9, which also triggers local bottoms.🔥 ETH Surge Team Battle is Live!
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