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It appears to be another slow day for BTC, as the top cryptocurrency by market cap is currently hovering around the $60k support level amidst increasing resistance at the $60.7k mark. The spent output ratio (SOPR) of short-term BTC holders also indicates that many people bought in near market tops in the hopes of riding the wave of market euphoria, only to experience sudden washouts that ultimately overturned their conviction. BTC's short-term fatigue has triggered some of these people to exit their positions, causing the spending behaviors of short-term holders to oscillate between market tops and troughs. However, not all is gloom for BTC. Ultimately, the overall P&L of short-term BTC holders — although in decline — is nowhere near testing the cost basis. Said overall P&L also indicates that the pullback is largely perceived to be a temporary one by most. Elsewhere, several altcoins have also been turning heads in the broader crypto market on the back of exciting new partnerships and naming-rights deals.