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\n\t\t\t\t\t\t\t\t\tLosing the $75,000 to $76,000 zone could put newer holders under pressure and accelerate even more selling.\t\t\t\t\t\t\t\t<\/p>\n<\/p><\/div>\n
Bitcoin (BTC) slipped back below $80,000 after testing the level again, with XWIN Japan pointing to profit-taking by existing holders as a major barrier on August 26.<\/p>\n
The next move may depend less on another brief test of $80,000 and more on whether fresh demand can absorb units being sold by investors sitting on gains.<\/p>\n
XWIN Japan noted<\/a> that nearly every Bitcoin investor group has returned to profit as the cryptocurrency approached $80,000.\u00a0Its unrealized PnL reading stood at 21.1 for long-term holders, 13.4 for short-term holders, 13.9 for investors holding for one day to one month, and 5.3 for the newest buyers.\u00a0That creates a familiar problem during a fast recovery: more profitable holders have a reason to sell.<\/p>\n The post also pointed to the SOPR Ratio, which compares profit-taking by long-term holders with that of short-term holders. The ratio briefly reached 1.4 as BTC neared $80,000, suggesting long-term holders were realizing profits at a higher relative rate. However, it has since fallen to 0.93, meaning short-term holders are now showing stronger realized performance relative to long-term holders.<\/p>\n As per XWIN, any sustained breakout above the $80,000 mark, coupled with rising ETF and spot demand, might be one way through which Bitcoin can reach the $88,000-$90,000 price point. However, it pointed out that the $75,000-$76,000 mark is the level to pay attention to if prices decline further. Failure at this level may make it difficult for the short-term holders to earn a profit, which, in XWIN\u2019s opinion, could speed up the correction.<\/p>\n \u201cThe key question is not whether Bitcoin can briefly touch $80,000, but whether new demand can absorb selling from profitable holders,\u201d the research firm concluded.<\/p>\n<\/blockquote>\n Another analyst, BorisD, also pointed<\/a> to fading buying pressure at higher prices, noting that Binance\u2019s volume delta, which tracks the difference between aggressive buying and selling, fell from $1.17 during Bitcoin\u2019s move from $63,000 to $70,000 to about $350 million near $80,000.<\/p>\n The other major exchanges showed much flatter readings. BorisD argued that the market may need a period of consolidation before attempting another breakout. But the backdrop remains more supportive than it was a week ago.<\/p>\n As CryptoPotato<\/em> reported, BTC climbed from below $65,000 on August 19 to above $81,000, helped<\/a> by Treasury buyback plans, renewed ETF demand and more than $4 billion in short liquidations.<\/p>\n\n
Momentum Has Cooled After a Huge Weekly Move<\/h2>\n
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