Bitcoin short-term holders show signs of fatigue: long-term investor confidence is strong
Recently, there have been signs of fatigue among short-term holders in the Bitcoin market. Data shows that the long-term liquidation volume of Bitcoin has soared since the beginning of August, indicating that short-term sellers may be losing momentum. Dragosch pointed out that many short-term wallets are selling Bitcoin at a loss, and the number even exceeds the low before August. This change has caused market sentiment to shift from bullish to neutral, which is reflected in the Bitwise Crypto Asset Sentiment Index.
More interestingly, Glassnode's analysis shows that Bitcoin's supply dynamics are quietly changing. The supply of Bitcoin with poor liquidity hit an all-time high, while the supply of Bitcoin with strong liquidity fell to the lowest level of the year. This means that more and more Bitcoin is being held for the long term, and investors' patience and confidence should not be underestimated.
Bitwise research analyst Ayush Tripathi mentioned that the supply of Bitcoin held by long-term holders (holding for at least 155 days) has continued to grow since the beginning of October. This trend shows that despite the weakening short-term demand, the market's confidence in Bitcoin as a long-term investment remains strong. Short-term fluctuations should not shake our expectations for the future!
Stay sharp, keep up with the market rhythm, and let's welcome the next peak of Bitcoin together! Every investment may be the key to success. Hold it tightly, and the future is infinite! Follow me to get more market insights and share more excitement with you!
