Bitcoin Risks Further Decline to $94K Amid STH Selling Pressure

• Short-term holders face mounting losses as BTC falls to $96,041, marking an 8.7% weekly decline.

• Realized losses hit levels not seen since April, signaling panic selling from recent buyers.

• Over 148,000 BTC sold by short-term holders in 48 hours, with shark and fish cohorts adding 70,100 BTC to the sell-off.

Discover why Bitcoin short-term holder losses are accelerating in 2025, with STHs dumping 148k BTC amid price weakness. Stay informed on BTC trends and trading strategies for potential rebounds. Read now for key insights.

What Are Bitcoin Short-Term Holder Losses and Why Do They Matter?

Bitcoin short-term holder losses refer to the unrealized and realized financial setbacks experienced by investors who have held BTC for less than 155 days, particularly when prices drop below their purchase points. These losses matter because they often trigger widespread selling, amplifying market downturns and eroding confidence among newer participants. As of late November 2025, short-term holder supply in loss has climbed to 4.9 million BTC, a peak reminiscent of earlier volatility periods.

How Have Short-Term Holders Contributed to Recent BTC Price Declines?

Short-term holders have played a pivotal role in Bitcoin’s recent slide, with data from Checkonchain indicating a sharp rise in both realized and unrealized losses over the past few weeks. This surge aligns with BTC’s price action, which has formed lower lows within a descending channel since late October, pushing the asset toward $96,041 at press time—a 5.91% daily drop and 8.7% weekly loss. The increased losses stem from purchases made at higher levels, around $102,000 to $107,000, now far above current valuations.

Historically, such elevated loss levels precede intensified selling as holders seek to minimize further damage. Market analysts note that when short-term holder supply in loss exceeds 4 million BTC, it often correlates with broader capitulation, as seen in April when prices hovered between $74,000 and $76,000. This pattern underscores the vulnerability of newer investors to rapid price swings, contributing to the current bearish momentum.

Supporting this, CryptoQuant data reveals that short-term holders offloaded 148,000 BTC acquired below $100,000 over the past 48 hours. This net outflow reflects a shift from accumulation to distribution, exacerbating the downward pressure as BTC breaches key support zones.

Source: CryptoQuant

The capitulation is not isolated to small holders; larger entities are also participating. For instance, shark cohorts—wallets holding 100 to 1,000 BTC—recorded a net balance change of -53,700 BTC over the 30-day period ending November 16, per Checkonchain metrics. Similarly, fish holders (10 to 100 BTC) saw a -16,400 BTC change, highlighting a coordinated sell-off across retail and mid-tier investors.

Source: Checkonchain

This broad-based selling suggests a bearish sentiment among those who entered the market during recent highs, unwilling to withstand prolonged drawdowns.

Frequently Asked Questions

What Causes Bitcoin Short-Term Holder Losses to Spike During Market Downturns?

Bitcoin short-term holder losses spike when prices fall below the average purchase cost of coins held for under 155 days, prompting realizations through sales. In the current cycle, a drop from $107,000 peaks has left 4.9 million BTC underwater, per Checkonchain, leading to 148,000 BTC dumped in 48 hours as holders cut losses to avoid deeper declines.

Is the Current BTC Sell-Off from Short-Term Holders a Sign of a Larger Market Bottom?

The ongoing sell-off from short-term holders, while intense, may indicate nearing capitulation rather than a full bottom, as historical data from CryptoQuant shows similar patterns before rebounds. Watch for slowing sales and increased spot buying to confirm stabilization around $94,000 support, potentially setting up a recovery to $99,000.

Key Takeaways

• Accelerating Losses: Bitcoin short-term holder losses reached an 8-month high of 4.9 million BTC, fueled by prices dipping below $100,000 cost bases.
• Massive Dumping: Over 148,000 BTC sold by short-term holders in 48 hours, with sharks and fish adding significant net outflows of 70,100 BTC.
• Trading Outlook: Monitor for reduced selling pressure; BTC could test $94,000 downside or rebound to $99,000 with fresh demand.

Conclusion

Bitcoin short-term holder losses have intensified in late 2025, with 4.9 million BTC now in the red and over 148,000 coins dumped amid a broader market decline to $96,041. This capitulation from recent buyers, supported by data from Checkonchain and CryptoQuant, highlights the risks of short-term positioning in volatile assets. As sell pressure eases, renewed spot demand could foster stabilization—investors should stay vigilant for signs of reversal to navigate upcoming opportunities effectively.

Source: Checkonchain