70% Bitcoin Short-Term Holders Dey Make Profit, $116900 Resist
Onchain analytics firm Glassnode talk say 70% of Bitcoin short-term holders dey make profit right now, showing say market dey stable despite recent price small drop. The profit-taking measure among these holders don cool down to 45%, meaning sell pressure dey neutral. For August 5, Bitcoin ETFs record net outflow of 1,500 BTC—the biggest since April 2025—but past trends show say this kain ETF outflow usually short. Glassnode flag $116,900 as important resistance level: if e clear pass this, e fit mean fresh bullish momentum, but if e no clear, e fit risk deeper correction to $110,000. With Bitcoin dey trade near $116,800 and up over 2% in 24 hours, traders suppose dey watch how Bitcoin short-term holders dey behave, ETF flow trends and $116,900 resistance to judge market direction for short and long term.
Neutral
Even though 70% of Bitcoin short-term holders dey enjoy profit and pressure for make dem collect profit don reduce to 45%, the main resistance at $116,900 never break. Recent ETF outflows na the biggest since April 2025 but normally dem no dey last long, e mean say e no go be steady sell-side pressure. Bitcoin small gain of 2% plus the stable onchain metrics dey show say market balance dey instead of clear direction. Traders suppose dey watch the $116,900 level for possible bullish breakout, but until then outlook remain neutral.