[Analysis] "Short-term Bitcoin investors' sell-off deepens… Signal of late-stage correction"

An analysis suggested that the Bitcoin (BTC) price correction may have reached the latter stage.

An XWIN Research Japan contributor to CryptoQuant said on the 18th (local time) via CryptoQuant, "Bitcoin is entering the most severe short-term investor sell-off phase in this cycle." XWIN Research said, "The realized profit ratio (SOPR) of short-term investors has fallen to about 0.97," adding, "This shows that short-term investors are clearly selling at a loss."

They also mentioned market-value-to-realized-value (MVRV). XWIN Research said, "The MVRV of short-term investors is also well below 1.0," meaning "the majority of recent buyers are in a loss zone." They added, "Also, about 65,200 Bitcoin being transferred to exchanges at a loss means that fear is translating into actual behavior rather than mere sentiment," noting, "This flow exactly matches a typical sell-off phase."

The analysis is that Bitcoin's correction may have reached the latter stage. XWIN Research said, "Volatility may continue, but the process of shaking out weak hands has already progressed significantly," adding, "Historically, such a process tends to appear in the latter stage rather than the early stage of a correction."