Продавцы в панике: как краткосрочные держатели спровоцировали падение биткоина Translation: Headline: Panic Sellers: How Short-Term Holders Triggered Bitcoins Decline

The decline in the price of the leading cryptocurrency from its peak of $126,000 was primarily triggered by the capitulation of short-term holders (STH), rather than by the selling of long-time investors (LTH). This conclusion was reached by analysts from XWIN Research.

Experts determined that the most dramatic drops were caused by panic selling among STH, many of whom were realizing losses. During periods of sharp declines, the majority of assets sold came from coins that were less than three months old. The actions of short-term holders, especially those utilizing leverage, had the most immediate and powerful impact on the price.

LTH also began to sell off their assets starting in September, securing profits. However, analysts believe that their activity aligns more with behavior typically observed in the middle of a bull cycle, rather than an aggressive offloading of coins that is usually seen at market peaks.

Despite the falling prices, new investments continued to flow into the sector. However, the influx was insufficient to offset the selling pressure.

Analysts concluded that the steep drop was a correction within a bull market, rather than a reversal of the trend. The key driving forces behind the decline were panic sales and the liquidation of positions held by short-term investors.

Analyst Michaël van de Poppe predicted that the price of digital gold could rise to $100,000 within the current week.

He believes that on November 15-16, the prices tested their lower limits. He now anticipates the establishment of a higher support level, which will serve as a foundation for growth.

Should this scenario unfold, there may be an opportunity for the liquidation of short positions with «trillions of dollars» in liquidity.

_»It will be magnificent,”_ he stated.

A crucial condition for testing the $100,000 mark, according to the analyst, is maintaining the $94,000 level.

At the time of writing, the price of the leading cryptocurrency was 24% below its all-time high. On November 14, short-term Bitcoin holders sold 148,241 BTC at a loss. This sell-off coincided with the asset’s price dropping below the psychological barrier of $100,000, noted the analyst known as Crazzyblockk.

According to his data, investors executed trades at around $96,853. The average purchase price of the coins ranged from $102,000 to $107,000.

The breach of the $100,000 support level and the subsequent drop below the entry point sparked a wave of fear. Investors opted to realize their losses rather than wait for further declines.

The analyst referred to this as a «classic capitulation» of participants who bought at the peak. He believes this transfer of coins from panicking sellers to confident buyers may strengthen the long-term support base.

Crazzyblockk views this as a «harsh but necessary reboot,» which could precede market stabilization.

It is worth noting that on November 17, the price of the first cryptocurrency fell to a six-month low of $93,000, after which it rebounded to approximately $95,000.