Will Bitcoin holders finally reach breakeven as longs hit $23.4B?
Bitcoin traders are watching a razor-thin line right now: the point where short-term holders stop losing money and start breaking even. With the price hovering near $65,200, the question of whether Bitcoin holders breakeven can actually hold this time โ rather than fade like it has twice already this year โ is shaping how the market reads the next move.
Key takeaways
- Bitcoin is stabilizing near $65,200 while the 30-day Short-Term Holder SOPR sits at 0.997, just under the neutral breakeven level of 1.0.
- Short-term holders are currently selling at a slight loss, and similar breakeven attempts in January and May both failed to hold.
- Long positions in Bitcoin futures hit a record 361,000 BTC, about 57.62% of all positions, worth roughly $23.4 billion.
- Futures open interest climbed to 108,000 contracts while spot demand weakened, with the Spot Cumulative Volume Delta dropping from 3,800 BTC to 2,500 BTC since August 5.
- Weak spot buying leaves the $62,000 support level exposed if the gap between futures and spot activity persists.
Bitcoin Price and Short-Term Holder Profitability Near Breakeven
Short-term Bitcoin holders are edging closer to breakeven, but theyโre not quite there yet. The 30-day Short-Term Holder SOPR โ a metric that shows whether recent buyers are selling for a profit or a loss โ climbed to 0.997, just below the neutral mark of 1.0. That puts short-term holders in a position where theyโre currently selling at a slight loss rather than a gain.
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