Bitcoin price is struggling to rise again.

Recently, fluctuations in the cryptocurrency markets continue to significantly impact the direction of Bitcoin's price. The considerable selling pressure from short-term holders may make it harder for Bitcoin (BTC) to rise as we might expect.

A CryptoQuant analyst stated that short-term investors have turned to selling Bitcoin due to realized losses, and this trend is increasingly growing. Especially when the price of Bitcoin tries to recover, these investors typically sell to realize profits or at breakeven levels, thereby creating further resistance to upward price movement. This situation leads to an excessive resistance forming above the price, restricting upward movements.

On-chain data shows that approximately 30,300 Bitcoin have been moved to exchanges at a loss in the last 24 hours. This indicates panic selling from investors who have recently bought. The CryptoQuant analyst emphasized that the Short-Term Holders Spent Output Profit Ratio (SOPR) staying at the 1 level reveals that confidence in the market is still weak. When the SOPR value cannot rise above this level, it means that investors are looking to take advantage of selling opportunities without believing in upward movements.

The CryptoQuant analyst noted that short-term investors' sales immediately increased when the Bitcoin price approached $112,500. At this point, the reflex of investors to recover from losses makes it difficult for Bitcoin to break through this price band. As a result, according to the CryptoQuant analyst, for Bitcoin to gain upward momentum, the selling pressure from short-term investors must first decrease. Otherwise, the price may face another wave of selling with each recovery attempt.