Bitcoin ‘Weak Hands’ Sell 15K BTC at a Loss: Are BTC Lows Under $100K Next?

Bitcoin faced selling pressure this week, with over 15,000 BTC sold at a loss by short-term holders. Onchain data suggests a potential price support range between $97,000 and $94,000. The overall market remains cautious amid international tensions and upcoming federal meetings, indicating potential for further price dips before any significant rally.

Bitcoin has had a rather quiet week, influenced by escalating tensions between Israel and Iran and uncertainty surrounding the upcoming Federal Open Market Committee (FOMC) meeting. Investors and traders seem to be holding back, and during this lull, some significant selling occurred. Surprisingly, over 15,000 BTC, primarily held by short-term holders (STHs), changed hands at a loss this week, according to data from CryptoQuant.

On Monday, around 959 BTC was transferred to exchanges at a loss. Yet, by Wednesday, that number jumped dramatically to approximately 16,700 BTC coinciding with Bitcoin’s dip in price from $106,500 down to $103,500. This trend indicates a pattern we often see with STHs, sometimes dubbed as ‘weak hands,’ who tend to panic-sell whenever Bitcoin experiences a downturn, cementing their losses in the process.

The rise in STH activity during these market dips arguably shows a dangerous trend. When these weaker hands liquidate their positions, the BTC often shifts towards long-term holders (LTHs), those considered ‘strong hands.’ This shift can aid in stabilizing the market and providing a firmer price foundation as LTHs are generally more resilient to volatility.

Interestingly, the supply held by STHs has been on a steady decline, particularly after steep market corrections. This drop in selling pressure from weak hands could create a window for coalescing new buying interest, potentially signaling the formation of a price floor for Bitcoin.

A closer look at the STH-LTH net position change chart shows an uptick in selling from STHs over the past month, with substantial absorption of this selling by LTHs. Such a dynamic is crucial for keeping Bitcoin’s price steady above the $100,000 threshold.

Currently, Bitcoin finds itself in what analysts from Swissblock describe as a “blind spot” in the market. Data suggests that since June 2025, there’s been a consistent negative spot volume delta, indicating underlying selling pressure, even amidst a minor price rebound driven by weak buying volume. This means we may not be fully out of the woods yet, and further dips could precede any significant breakout, contingent on renewed demand.

A significant indicator is the onchain cost-basis for short-term holders. It reveals a support range between $97,000 and $94,000, which could represent a local bottom. This level appears crucial as it would sweep through key liquidation points below $100,000 while re-testing nearby fair value gaps and daily order blocks.

As a cautionary note, it’s worth mentioning that this article does not offer any investment advice. Trading and investing come with risks. Readers are encouraged to perform thorough research before making decisions.

In summary, Bitcoin has seen a wave of short-term selling with over 15,000 BTC moving at a loss this week, amidst market uncertainties. Although this has contributed to a drop in price, it reflects a typical behavior pattern among weaker hands. Meanwhile, long-term holders are absorbing this selling, potentially stabilizing prices above $100,000. Analysts note that Bitcoin might currently be in a market blind spot with significant price support found between $97,000 and $94,000, which could signal a local bottom. However, caution remains essential as the market navigates through fluctuating demand.

Original Source: cointelegraph.com