82% Of Bitcoin Short-Term Holder Supply Now In Loss, Capitulation Ahead?

On-chain data shows around 82% of the Bitcoin short-term holder supply is currently in loss, suggesting that capitulation may occur soon. 82% Of Bitcoin Short-Term Holder Supply Now In Loss, While Total STH Supply Declines According to the latest weekly report from Glassnode, the BTC STH supply is nearing all-time lows at the moment. However, 82% of it is being held at a loss. The “BTC short-term holder supply” is that part of the total Bitcoin supply that has been held for less than 155 days. The investors holding this supply are usually the likeliest to sell their coins off during market volatility, and especially when a capitulation flush out occurs. An on-chain indicator, the Bitcoin STH supply in profit/loss, tells us the percentage distribution between these coins being held at a profit and those being held at a loss. When a high amount of this supply is in loss, there may be more sell-side pressure in the market as short-term holders capitulate easily. Related Reading | Bitcoin MPI Rises To Highest Value Since March 2021, Bull Rally Soon? Now, here is a chart that shows the trend in the BTC STH supply over the history of the coin: Looks like the value of the indicator has declined over the years | Source: Glassnode's The Week Onchain - Week 11, 2022 As you can see in the above graph, the Bitcoin STH supply has been observing a constant downtrend over much of the history of the coin, and is currentl...