While long-term investors are selling Bitcoin, short-term investors continue to accumulate.
Have you held Bitcoin in your wallet for more than 155 days?
On January 1, 2024, there were 15.8 million Bitcoin in the wallets of LTH (long-term holders), while STH (short-term holders) had only 3.7 million Bitcoin. However, currently, LTH wallets hold 14.4 million Bitcoin, while STH wallets hold 5.2 million Bitcoin.
Such changes are quite common in early bull markets. In the 2017 bull run, the amount of Bitcoin in STH wallets reached as high as 8.1 million, while in the 2021 bull run, it only reached 6.9 million.
However, it is important to be more cautious when the amount of Bitcoin in STH wallets rises to 6.5 million and above. History has shown us this.
Written by burakkesmeci
