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With the significant decrease in profits of short-term investors, the price decline this time is also starting to stabilize. The market has reduced profit-taking pressure from short-term investors. As for long-term investors, they have also taken quite a lot of profits. Throughout last January, LTHs with different "hold" times all had their profit-taking phases:
On January 4, holders from 6 months to 1 year took a profit of 184.6 thousand BTC. This is such a large amount that the Spent Output Age Bands index filtered by long-term investors has had its highest column in more than 4 years.
On January 16, holders from 5 years - 7 years suddenly took profit of 50.17 thousand BTC.
On January 24, holders from 3 years - 5 years also took a profit of 33.8 thousand BTC.
It can be seen that long-term holders with different holding periods have taken profit-taking actions recently. Even veteran holders who have held BTC for several years are still taking profits. Thus, the possibility that the BTC boat has become much lighter and the selling pressure in the near future will likely not be too strong anymore.


So, in general, the selling pressure is gradually stabilizing, short-term investors have begun to show signs of cutting losses when BTC drops below 40,000 USD. The price range between 30,000 - 40,000 USD has a lot of support and it is very difficult for BTC price to go below 30,000 USD during this correction, if at all. In the derivatives arena, cash flow is showing more hesitation, market psychology is no longer FOMO but waiting for the next signals.