Bitcoin News Today: Bitcoin Short-Term Holders 70% in Profit Amid Price Volatility

Onchain analytics firm Glassnode has observed that 70% of Bitcoin short-term holders are currently in profit, despite recent price corrections [1]. This development has triggered speculation about the likelihood of a sell-off as these investors may struggle to maintain positions amid sideways price action. However, sell pressure from this group appears relatively low at the moment, as the proportion of their holdings being liquidated stands at 45%, a neutral figure [1].

The report highlights that the Bitcoin price is currently trading within a narrow air-gap, suggesting a balanced market environment. This could alleviate immediate concerns about a large-scale sell-off by short-term holders, who are typically more sensitive to price swings [1]. Glassnode also noted that late-stage profit-taking could still introduce some volatility if market conditions shift.

Meanwhile, outflows from Bitcoin ETFs have added to potential sell-side pressure. On August 5, ETFs recorded a net outflow of 1,500 BTC, marking the largest sell-off since April 2025 [1]. While such outflows have historically been short-lived, the firm stressed the importance of monitoring future flows to determine if this is a recurring pattern or a sign of shifting investor sentiment.

Glassnode emphasized that Bitcoin must decisively break above the $116,900 level to generate upward momentum. This level represents the cost basis for recent buyers and serves as a critical resistance point [1]. A sustained move above this threshold would indicate growing demand and confirm that the price has found reliable support. Conversely, should Bitcoin remain below this level for an extended period, it could signal the risk of a deeper correction, potentially pushing the price toward the lower bound of the air-gap near $110,000 [1].

At the time of the report, Bitcoin was trading at approximately $116,800, reflecting a 2% increase over the previous 24 hours [1].

[1] Source: [1] Bitcoin Short-Term Holders Move Into Profit: Is Another Sell-Off Looming? (https://www.newsbtc.com/bitcoin-news/bitcoin-short-term-holders/)