Short-term holders (STH) with assets under three months old are growing thanks to institutional investors or new whales, not retail investors. This is confirmed by the changes in whale balance sheets, which support the steady rise in Bitcoin prices.

Despite the positive price movement, the Korean market remains restrained due to the negative “Korean premium”, indicating limited participation by Korean investors. Memories of the last all-time high in March are making them hesitant. But if they want to take advantage of the current market rally, they should act quickly to avoid missing the opportunity. Time is running out.