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Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Bitcoin Short-Term Holders Go On 1.2 Million BTC Buying Spree, Is Retail Finally Here?

Scott Matherson
Scott Matherson
1 year ago
3 mins read
Bitcoin

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Short-term Bitcoin holders have been going on a buying spree lately, accumulating over 1.2 million BTC since December 2023, according to Glassnode. Bitcoin has received major interest from investors since the beginning of the year, and rightly so, considering the amount of attention brought by the launch of Spot Bitcoin ETFs in the US.

While the cryptocurrency has gone through an extended period of bullish action, the majority of the accumulation trend has largely been attributed to whales and addresses holding large amounts of Bitcoin for long periods. However, recent data from Glassnode has revealed an interesting accumulation trend amongst short-term holders. At the same time, the profit/loss ratio of this cohort of trades has remained well within the profit zone since the beginning of the year, with profit taking outsizing losses by 50x.

Interest In Bitcoin Among Retail Investors

Investors have seen Bitcoin struggling to trade above the $70,000 price level since the middle of March. However, Bitcoin on-chain data has recently revealed an interesting accumulation trend from Bitcoin’s holding addresses. Particularly, 21,400 BTC, worth around $1.40 billion, were moved into these addresses in the past few days, indicating the buying pressure might be back already.

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The collective holding of short-term holders has been rapidly climbing since December 2024 while the long-term holders have been distributing. Short-term holders are those wallets that hold Bitcoin only for a few weeks or months at a time. The fact that so many new coins have entered short-term holder wallets recently shows that many investors have been pouring into the market. This, in turn, could suggest the cryptocurrency has finally achieved full-scale adoption, which could lead to continued price growth over the years.

Profit/loss data reveals short-term holders have collectively been in profit since the beginning of the year. According to Glassnode, short-term holders have been buying and selling at a profit for the majority of 2024 so far. In fact, the short-term holder profit has outsized losses by 50 times. This means that over 49 out of 50 short-term holders were selling their Bitcoin for a higher price than what they paid.

Bitcoin short term holdersSource: Glassnode

Interestingly, Bitcoin’s recent ascent to a new all-time high saw the short-term holder realized profit/loss ratio reaching its highest point ever on the 7D Exponential Moving Average. 

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Retail Interest To Push BTC Price?

The buying spree by both short-term and long-term holders suggests that both retail and institutional interest in Bitcoin is now at its highest point. Fundamentals point to the likely continuation of this trend throughout April, especially with the approach of the next Bitcoin halving. 

At the time of writing, Bitcoin is trading at $66,903, up by 1.87% in the past 24 hours.

Bitcoin price chart from Tradingview.com

BTC price drops below $67,000 | Source: BTCUSD on Tradingview.com
Featured image from Yahoo Finance, chart from Tradingview.com
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Scott Matherson
Scott Matherson

Scott Matherson

Scott Matherson is a prominent crypto writer at NewsBTC with a knack for capturing the pulse of the market, covering pivotal shifts, technological advancements, and regulatory changes with precision. Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers.

Read more

Scott’s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott’s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life.

With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others.

Scott’s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott’s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry.

Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors.
In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else.

Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies.

Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

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