Bitcoin short-term holders are reducing their selling activity as the price slowly climbs above $112,000, with profit-taking among recent buyers dropping to 45%. Glassnode reports the market is in a balanced position, with 70% of supply in profit. Bitcoin is currently trading at $114,766 after reaching new highs of $123,100.

Recent buyers near all-time highs are selling at a loss, according to Checkonchain’s SOPR analysis. The outlook remains positive for Bitcoin in 2025, with analysts like Tom Lee predicting a potential price target of $250,000 by the end of the year. Despite recent pullbacks, optimism remains for Bitcoin’s performance.

Market participants are closely watching the behavior of Bitcoin short-term holders, who historically sell during periods of volatility. Despite falling to $112,044, Bitcoin’s price is recovering, currently trading at $114,766. Analysts like Tom Lee foresee potential for Bitcoin to reach $250,000 by the end of 2025.

Read more at Cointelegraph: Bitcoin Short-Term Holders Cool On Profit-Taking: Glassnode