Bitcoin Rebound Driven by Short-Term Holders as Long-Term Holders Remain Quiet

The recent Bitcoin price rebound from its September 15 low of $74,965 to $81,502 marks a 9.15% recovery.

However, on-chain data suggests that short-term holders are realizing most gains during this period, while long-term holders remain inactive.

The SOPR ratio, which compares LTH-SOPR with STH-SOPR, currently stands at 0.88, indicating that short-term holders are taking profits relative to long-term holders.

The aSOPR metric also shows that profits are still being realized, with a reading of 1.02.

This indicates that some profit-taking is happening during the rebound, but the data does not show aggressive selling from long-term holders.

Now, Bitcoin faces immediate resistance at the May high near $82,322, and a clear break could target $90,000. Rejection would change the setup quickly, with possible revisits to supports at $76,350 and $73,280.