The current BBUSD market is experiencing abundant liquidity and stable demand, mainly because short-term Bitcoin holders have not realized losses, which suppresses active selling and encourages continued capital to remain in stablecoin positions. However, attention should be paid to the possibility that if Bitcoin breaks through the key $100,000 level, short-term profit-taking could cause temporary liquidity outflows and contraction for BBUSD. Strategically, it is recommended to maintain dynamic position management for BBUSD, closely monitor liquidity changes and the risk of short-term capital shifts following a Bitcoin breakout at key price levels, and respond flexibly to potential liquidity fluctuations.

Recently, the average holding cost of short-term Bitcoin holders is above the current price, resulting in most of them being in an unrealized loss state. As a result, their selling willingness has diminished, significantly easing the selling pressure in the Bitcoin market. In this context, traders seeking to maintain their long positions are keeping some capital in stablecoin positions to enter the market at any time. This demand supports BBUSD usage frequency and circulation, enabling it to maintain robust supply and ample liquidity in the short term.

CryptoQuant analyst Axel notes that Bitcoin's current rise benefits from reduced selling pressure by short-term holders, who are currently at a loss since BTC trades below their average acquisition cost. This limits their profit-taking potential and suppresses sell pressure, explaining price resilience despite pullbacks. However, if BTC reaches $100,000, short-term holders may break even and start selling, creating price pressure. A key bullish signal is BTC closing above the short-term holders' realized price.

Analyst: The current BTC rise benefits from reduced selling pressure; if it reaches $100K, it will face selling from short-term holders.

If Bitcoin's price rises further and approaches the critical $100,000 mark, short-term holders are likely to reach breakeven, gradually releasing potential selling pressure. At that time, BBUSD in the market may experience an influx, with some stablecoin positions used to take profits or converted into fiat currency, resulting in a temporary contraction of short-term liquidity. In the medium to long term, as selling pressure stabilizes, BBUSD can continue to maintain its trading and settlement functions by virtue of its stablecoin nature.

BounceBit USD

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