Quick Take
According to recent data analysis from Glassnode, Bitcoin is experiencing the most significant divergence ever witnessed between its long-term holders (LTHs) and short-term holders (STHs). The distinction between LTHs and STHs is based on a 155-day holding period. Those who have held on to Bitcoin for more than 155 days are classified as LTHs, while those who have held for less fall into the STH category.
The quantity of coins held by LTHs is nearing the 15 million mark, whereas STHs have plummeted to their lowest level of 2.3 million since 2010.
This phenomenon aligns with the period beginning 155 days ago when Bitcoin reached $30,000, then a year-to-date high, and maintained that level for approximately two months.
Looking forward, it will be pivotal to observe whether there is a revival of LTHs extending their supply or if there’s a decline prompted by those who purchased at the local peak and sold when Bitcoin dipped to $25,000 in August and September.
Source:cryptoslate.com
