Bitcoin sell-side risk returns to rare lows as $80K sellers fade from view

Bitcoin (BTC) sell-side risk remains near historic lows as August profit-taking cools, new data shows.Key points:Bitcoin’s sell-side risk ratio fell to seven from 16 in September, placing it among its lowest-ever readings.Selling pressure eased while Bitcoin held most of its 25% August gains.Bitcoin ETF investors have spent 229 sessions below their aggregate breakeven level near $86,000.Bitcoin hodlers are “selling less” in September, Glassnode saysIn the latest edition of Glassnode’s The Week Onchain newsletter, the crypto analytics platform said Bitcoin’s sell-side risk ratio (SSRR) had reset lower.Sell-side risk sums total onchain realized profits and losses and divides that figure by Bitcoin’s realized market cap. The result is a snapshot of the US dollar value realized over a given period relative to realized cap.Glassnode describes lower values as signals of “macro market bottoms, accumulation phases and relatively low sell-side risk environments.”SSRR reached 16 as Bitcoin’s price hit multimonth highs above $80,000 in late August. As of this week, however, the metric has more than halved to 7, one of the lowest readings on record.Bitcoin SSRR data. Source: GlassnodeGlassnode...