Bitcoin's sell-side risk ratio hits record lows, suggesting an accumulation phase as long-term holders refrain from selling despite macroeconomic headwinds and ETF losses.
Bitcoin's sell-side risk ratio (SSRR) has plummeted to record lows of 7, indicating a significant reduction in profit-taking behavior among long-term holders. This suggests the market is currently in an accumulation phase, as the August rally failed to trigger a major influx of supply into the spot market.
The Sell-Side Risk Ratio tracks realized profits and losses on-chain relative to Bitcoin's realized market capitalization.
Glassnode estimates that US spot Bitcoin ETF buyers would return to aggregate breakeven around $86,000.
Ethereum is benefiting from a broader market recovery, holding steady around the $2,500 level. Despite the positive price action, the asset remains vulnerable to the same macroeconomic pressures affecting the wider crypto space, such as rising inflation and potential interest rate hikes.
Ethereum is currently holding around the $2,500 level amid a wider market recovery.
XRP is participating in the general market-wide rebound, showing resilience as selling pressure across the crypto sector subsides. Its performance is currently tied to the overall sentiment of the digital asset market rather than specific idiosyncratic news.
XRP is gaining as part of a broader cryptocurrency market rebound and reduced selling pressure.
Solana has demonstrated resilience during the recent market recovery, moving in tandem with Bitcoin and other major assets. The asset's price action reflects a temporary lack of seller conviction in the current market environment.
Solana is recovering alongside the broader market as sellers step back.
BNB is rising in correlation with the wider cryptocurrency market as profit-taking remains subdued across the board. The asset is currently benefiting from the same lack of supply pressure that is supporting Bitcoin's price floor.
BNB is rising in line with other cryptocurrencies as profit-taking remains subdued.
Dogecoin has seen a price increase as part of a collective recovery among meme coins and the broader crypto market. Its movement is heavily dependent on the prevailing risk-on sentiment currently dominating the digital asset space.
Dogecoin saw a price increase alongside other meme coins during the market-wide recovery.
Bitcoin's sell-side risk ratio has plummeted to 7 from 16, signaling a significant reduction in profit-taking activity among long-term holders. While ETF investors remain underwater with $3.9 billion in paper losses, the broader crypto market, including Ethereum and Solana, is staging a recovery as selling pressure remains historically subdued.
A low SSRR indicates reduced selling activity and is often associated with accumulation phases or market bottoms, suggesting that holders are currently unwilling to sell at prevailing prices.