I recently saw some interesting data about short-term Bitcoin holders. Analyzing the SOPR index, it’s clear that those who have recently bought Bitcoin are under significant pressure.

Over the past few weeks, the SOPR index has mostly stayed below 1.0, meaning these holders are selling at a loss compared to their purchase price. The average price for short-term holders was around $89,000, but the market has also experienced fluctuations. Even when the price goes slightly higher, the SOPR index doesn’t remain stable.

Interestingly, the supply of these short-term holders has also decreased — about 14 million BTC have been reduced over two weeks. This could indicate two things: either they are selling at a loss, or they are deciding to hold for the long term.

Until the SOPR index remains above 1.0 for several days and the price shows strong growth, this pressure may persist in the market. For now, this behavior of short-term holders signals market uncertainty.