Analyst: Bitcoin short-term holders' overall loss ratio rises to 73%, trapped positions may continue to suppress rebound

BlockBeats news, November 15 - Crypto analyst Murphy stated that Bitcoin's current correction has pushed the proportion of short-term holders' loss-making positions (STH-PSIL) up to 73%. For comparison, in the previous round, against the backdrop of combined interest rate hikes and the traditional banking crisis, this indicator was 51% during the first correction and rose to 67% in the second round. Murphy described this round's trend as a "crater start," considering it somewhat similar to the market conditions from 2019 to 2020. In the first correction of 2019, the indicator once rose to 97%, after which it took the market about a year to emerge from the doldrums.

Murphy believes there is no need for excessive pessimism at present, but investor confidence has been damaged, and the large volume of trapped positions above may continue to create selling pressure when prices rebound to key levels, making this round's recovery potentially more difficult than in 2019. He stated that he heavily bought BTC from February to June, and although the current price is close to his holding cost, he still has no intention to sell.