BTC Long-Term Holder Panic Looms — On-Chain Analyst Murphy Pins Bottom Range at $97K–$106K
BTC/USDT
$25,688,978,986.00
$71,632.08 / $68,176.47
Change: $3,455.61 (5.07%)
-0.0000%
Shorts pay
On September 28, COINOTAG reported that on-chain data analyst Murphy characterized the post-August 13 BTC consolidation as a potential structural adjustment that has likely not yet completed, noting the pattern reflects a phased reallocation rather than an immediate regime shift.
Murphy’s metrics indicate realized losses to date have been concentrated among Short-Term Holders (STH), while the Long-Term Holder (LTH) loss ratio remains at 0%. The data further identifies the highest-cost LTH cohort near approximately $106,000, albeit with limited aggregate exposure.
The analyst cautions that, if Bitcoin revisits the roughly $97,000–$106,000 band, a larger share of LTHs would transition into unrealized losses—potentially defining a bottom range for a pullback. This summary is for informational and educational purposes and does not constitute investment advice.