Short-Term Bitcoin Holders Take Profits As Bitcoin (BTC) rallied to its highest level in three months, data from Glassnode suggests that short-term holders are cashing out. Addresses holding BTC for less than 155 days deposited 7,127 BTC (worth $480 million) to Binance on July 14th, the largest single-day deposit since the March all-time high. Whales Accumulate BTC In contrast, whale addresses holding 1,000 BTC or more have been accumulating, amassing an estimated 1.5 million BTC over the past six months. This accumulation suggests that long-term investors remain bullish on Bitcoin's prospects, despite the recent correction. Market Outlook While short-term holders are taking profits, the accumulation by whales indicates a belief in Bitcoin's long-term value. The market's direction in the coming weeks will likely depend on the balance between selling pressure from short-term holders and buying pressure from whales.

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