Short-term Bitcoin (BTC) holders (STHs) have significantly increased their holdings over the past several months, adding 1.5 million BTC to their wallets since September 2024, according to data from Glassnode. This surge brings the total amount of Bitcoin held by STHs to over 4 million BTC, marking a notable trend in the market.
The data reveals an average accumulation rate of 300,000 BTC per month during this period, suggesting a high level of confidence among short-term holders in the cryptocurrency’s price potential. Bitcoin’s price journey has been equally remarkable, rising from $60,000 to a peak of $109,000 before experiencing a pullback to below $100,000. This price movement has likely contributed to the ongoing accumulation trend among short-term holders, who may be capitalizing on the market volatility to maximize profits.
Glassnode defines short-term holders as those who have held their Bitcoin for less than 155 days. This classification helps identify traders who are less likely to be long-term investors or holders and are instead reacting to shorter-term market fluctuations. Given the recent surge in Bitcoin’s price, STHs may have been actively buying during dips, anticipating further price increases.
The accumulation of 1.5 million BTC by short-term holders highlights the growing optimism in the Bitcoin market, despite the pullback below $100,000. As the market stabilizes, it remains to be seen how these short-term holders will react to future price fluctuations and whether their accumulation will continue.
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In conclusion, the recent data from Glassnode underscores the strong accumulation trend among short-term Bitcoin holders, reflecting their confidence in Bitcoin’s bullish price action. Investors and analysts will be keeping a close eye on this group of holders to understand the potential impact on future price movements.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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