Bitcoin (CRYPTO: BTC) is approaching the $70,000 mark, even as geopolitical tensions tied to U.S. airstrikes on Iran drive the price of oil higher.
Short-Term Holders Show Resilience
Despite a recent dip toward the $63,000–$64,000 range, Bitcoin’s short-term holders (STHs) are not displaying signs of panic selling, CryptoQuant data shows.
Following the Feb. 5–Feb.6 capitulation event, when large volumes of BTC purchased near $89,000 were sent to exchanges at a loss within 24 hours, loss-driven inflows have steadily declined.
Sell pressure from recent buyers appears to be fading, suggesting that initial panic has transitioned into patience or …