Cryptocurrency analyst Murphy (@Murphychen888) analyzed that as Bitcoin fell yesterday, some indicators worsened, suggesting that a bearish trend may prevail in the short term. He explained, "The BTC Short-Term Holder Realized Price (STHRP) and Total Market Mean Price (TMMP) indicators eventually formed a dead cross. In this downturn, the STHRP has fallen gently, so the selling pressure is not as significant as in the past. Generally, the sharper the decline, the stronger the stop-loss pressure from high-point purchases, and consequently, the price often faced resistance for a long time. In this downturn, the STHRP also appears to be a benchmark dividing bull and bear markets. As the current price is below the STHRP, a bearish trend is likely to prevail in the short term."
