Bitcoin’s four-day crash has initiated a healthy reset among investors, but momentum remains limited until long-term holders continue selling their BTC, according to Glassnode.
Bitcoin’s four-day drop to $104,000 triggered what analysts call a “defensive rotation” among crypto investors, but onchain data suggests the correction was a healthy reset rather than the start of a broader market crash.
Bitcoin (BTC) experienced a four-day crash last week, falling from $115,000 last Tuesday to a four-month low of $104,000 by Friday, a level last seen in June, TradingView data shows.
Despite the steep decline, analysts said the correction flushed out excess leverage, prompting investors to shift from chasing gains to protecting capital.
In a report Tuesday, blockchain analytics firm Glassnode said short-term Bitcoin holder supply has risen, signaling that “speculative capital” is taking a larger share of the market.
