Short-term holders are trapped.


STH Realized Price: $85KBTC price: $67K
That puts the average short-term holder $18,000 underwater.SOPR has stayed below 1.0 for 110+ straight days.
And STH Realized Price YoY just turned negative for the first time since the 2022 bear market.
This is what prolonged market stress looks like.
Full brief below 👇
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