According to the latest data from Glassnode, there is a significant shift in conservative behavior in the Bitcoin (BTC) market.
With the increasing distribution movement over the past 30 days, it appears that the vast majority of market participants have started to abandon the HODL strategy. Bitcoin’s long/short-term holder supply ratio has fallen to 3.78, the lowest level in the current cycle.
Has Bitcoin reached its peak?
This decline suggests that short-selling is increasing among investors and more BTC is coming into circulation. However, it is not yet clear whether this signals a peak. Historically, Bitcoin prices have continued to rise despite deepening distribution movements and even bottomed in some cases.
Bitcoin price movements continue to be affected by this dynamic shift between long-term investors and short-term speculators. This data suggests that market volatility may increase and investors should carefully consider their risk management strategies.
Stay tuned