The indicator measuring the total balance of cryptocurrencies held by short-term holders (up to one month) has risen. Historically, this increase often signals basic euphoria, which tends to coincide with local tops in Bitcoin's price. This reflects heightened speculative activity or the entry of new investors into the market, potentially leading to temporary overbought conditions.

Currently, there are over 3.19 million addresses in this category, representing approximately 5.9% of all Bitcoin addresses on the network. However, when analyzing historical data, it becomes clear that the indicator is still far from reaching the high levels observed in previous cycles, suggesting that the market, despite the increase, has not yet reached a point of extreme euphoria.

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