Bitcoin Short-Term Holders Lock In Gains: Data Suggests The Bull Trend Remains Intact

Bitcoin is approaching a pivotal moment as it consolidates just below the $110,000 mark, holding strong while flirting with the possibility of a breakout. After weeks of steady upward momentum, BTC is now facing a key resistance zone that could determine the next phase of its bull cycle. Despite rising macroeconomic uncertainty and global tensions—from trade conflicts to shifting interest rate expectations—Bitcoin appears to be thriving in this environment. As traditional markets show signs of stress, demand for hard digital assets like BTC continues to rise.

On-chain data further supports the idea that investor confidence remains intact. According to new insights from CryptoQuant, the STH SOPR (Spent Output Profit Ratio) 30-day moving average—a metric that tracks the average profit or loss realized by short-term holders—has recently hit a local high. This signals a noticeable increase in realized profits among recent buyers, typically a sign of strength in an uptrend.

Crucially, this level of realized profit hasn’t yet reached the euphoric extremes seen during major market tops. That suggests the current profit-taking is healthy and not yet disruptive to the broader bullish structure. With momentum building, Bitcoin could be gearing up for its next big move.

Bitcoin Flirts With Breakout As Global Market Dynamics Shift

Bitcoin is once again testing critical resistance just below the $110,000 mark, hovering in a tight consolidation range as it flirts with the possibility of an impulsive breakout. Price structure remains bullish across multiple timeframes, but all eyes are on whether BTC can generate enough momentum to break through and reclaim price discovery.

Meanwhile, global tensions are escalating, adding new variables to an already volatile macro landscape. A recent Federal court decision to strike down US President Trump’s tariffs on multiple countries has shaken market expectations, introducing a fresh wave of uncertainty across global trade and equity markets. While traditional assets digest the impact, Bitcoin and other major cryptocurrencies are quietly holding firm—if not thriving—under these tighter economic conditions. Both BTC and ETH have maintained strong price floors, signaling continued investor interest in digital assets as macro hedges.

On-chain data further supports this resilience. According to analyst Axel Adler, the STH SOPR (30DMA)—which tracks the average profit or loss realized by short-term holders—has recently hit a local high. This means short-term investors are locking in noticeable profits. However, the metric has not yet reached the overheated, euphoric levels typically seen near cycle tops. Despite increased realized gains, demand for Bitcoin remains robust, suggesting the bull trend is still intact.

This healthy profit-taking behavior, combined with strong holding patterns, paints a picture of a market that is gearing up, not cooling down. If resistance gives way, BTC could see a powerful continuation to the upside, potentially dragging the broader crypto market along with it.

BTC Consolidates Below Critical Resistance

Bitcoin is currently trading at $108,495 on the 4-hour chart, continuing to consolidate just below the key $109,300 resistance level. This zone has repeatedly rejected price advances over the past several sessions, creating a short-term ceiling that bulls have yet to break. Despite the resistance, BTC remains in a strong uptrend, supported by a series of higher lows and sustained buying pressure at key moving averages.

The 34 EMA ($108,513) is now acting as dynamic support, while the 50 and 100 SMAs ($109,024 and $106,516, respectively) have helped contain previous pullbacks. A successful reclaim of the $109,300 resistance would likely trigger an impulsive move toward the previous all-time high near $112K.

The volume remains relatively stable, and the price is holding above the broader support band between $ 106,000 and $103,600. This zone has served as a launchpad for recent rallies, and as long as BTC remains above it, the bullish structure remains intact.

Featured image from Dall-E, chart from TradingView