Short-term holders (STHs) are investors who have purchased Bitcoin within the last 155 days, while long-term holders (LTHs) are those who have held Hold Bitcoin longer.
Notably, the launch of the Bitcoin ETF in the US on January 11, approximately 172 days ago, means that investors who bought Bitcoin at that time are now classified as LTHs.
Bitcoin: Average exchange withdrawal price (by year) | (Source: Glassnode)
The average base value for this group of LTHs is $58,049. With Bitcoin trading above $62,000, these investors are seeing returns of around 7%. STHs are famous for their sensitivity to short-term price fluctuations, while LTHs tend to be less reactive to market fluctuations over time.
Interestingly, Bitcoin went through a 20% correction starting June 7, where the underlying value for these LTHs was $57,600. Despite the correction, these investors have continued to buy, demonstrating a strategy of buying on dips.
Bitcoin: Average exchange withdrawal price (by year): (Source: Glassnode)
Similarly, when Bitcoin dropped to $56,500 on May 1, the average underlying value was $56,300, suggesting that these LTHs provided support during that bearish period. This behavior highlights the resilience and strategic buying patterns of LTHs during market corrections.
Source: https://tapchibitcoin.io/nha-dau-tu-etf-my-som-da-duoc-cong-nhan-la-nhung-nguoi-nam-giu-dai-han-lth.html
