Parabolic

Bitcoin

Pepe

Rekt

About 74% of <a href="https://insidebitcoins.com/news/81-million-spot-bitcoin-etf-outflow-ends-positive-streak-as-bitwise-says-two-thirds-of-institutional-holders-increased-or-maintained-q2-positions" rel="noopener noreferrer nofollow">Bitcoin</a> (BTC) hasn’t moved in over six months, despite a 21% drop from its all-time high, as investors increasingly view it as a long-term store of value.
Just a week ago, on-chain data from Glassnode showed that around 45% of BTC’s supply had been dormant for at least six months.&nbsp;
The amount of stationary BTC has since <a href="https://unchained.com/hodlwaves" rel="noopener noreferrer nofollow">risen</a> to over 70%.
<img decoding="async" src="https://unchainedcrypto.com/wp-content/uploads/2024/07/sdf-scaled.jpg" alt="Short-term Holders Underwater Amid Bitcoin Sell-off: Glassnode - Unchained">
<h2 id="span-style-font-weight-400-short-term-holders-are-currently-under-water-span">Short-Term Holders Are Currently Under Water</h2>
Following BTC’s correction after reaching its new all-time high, analyst James Check noted that more than 80% of short-term Bitcoin investors, who are investors that have held BTC for less than 155 days, are currently in the red. 
This is because many short-term holders acquired BTC at rates higher than its current price.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 Right now, over 80% of <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> Short-Term Holders are underwater, meaning their coin was acquired at a price above the current spot price.
 This is similar to 2018, 2019, and mid-2021 which signalled many investors were at risk of panicking, and precipitating a bearish trend. <a href="https://t.co/8jM7PBqh5z" rel="noopener noreferrer nofollow">pic.twitter.com/8jM7PBqh5z</a>
 — _Checkmate 🟠🔑⚡☢️🛢️ (@_Checkmatey_) <a href="https://twitter.com/_Checkmatey_/status/1825328497067540737?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">August 19, 2024</a>
</blockquote>
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In an Aug. 19 post on X, he noted that of the 4.32 million BTC held by short-term investors, 3.45 million coins were bought at a higher price than the current market rate. 
This, according to the analyst, is similar to 2018, 2019, and the middle of 2021. In the previous instances, a bearish trend was ignited, prompting Check to warn of a similar trend playing out soon.
<h2 id="span-style-font-weight-400-analyst-predicts-parabolic-surge-for-bitcoin-in-september-span">Analyst Predicts “Parabolic” Surge For Bitcoin In September</h2>
Crypto investor sentiment is bearish. Over the past 24 hours, the Crypto Fear and Greed Index dropped 3 points from a score of 31 to 28, signaling fear in the market.
 This is a slight improvement from the extreme fear score of 25 just a week ago. It is, however, a substantial decrease from last month’s greed score of 74.
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 <a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#BTC</a>
 Bitcoin is ~125 days after the Halving
 Bitcoin tends to breakout into the Parabolic Phase of the cycle some ~160 days after the Halving
 If history repeats, Bitcoin could be just over a month away from breakout
 That's late September<a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a> <a href="https://twitter.com/hashtag/Crypto?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Crypto</a> <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitcoin</a> <a href="https://t.co/iy7xmDjuso" rel="noopener noreferrer nofollow">pic.twitter.com/iy7xmDjuso</a>
 — Rekt Capital (@rektcapital) <a href="https://twitter.com/rektcapital/status/1825167403895922825?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">August 18, 2024</a>
</blockquote>
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Despite the negative sentiment, trader and analyst Rekt Capital said in an Aug. 18 X post that BTC could enter a “Parabolic” breakout following the April halving. 
In the past, <a href="https://insidebitcoins.com/news/bitcoin-falls-3-in-an-hour-despite-cpi-data-meeting-expectations" rel="noopener noreferrer nofollow">BTC</a> has entered into a strong move 160 days after the historic event. If history repeats itself, BTC could surge in September, according to the analyst.
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74% Of Bitcoin Stays Put For 6 Months As Investors Bet On Long-Term Value Despite Price Drop

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