Bitcoin's short-term holders add $6B in realized cap, betting on a bullish Q4. Meanwhile, long-term holders cash out, taking profits. What does this mean for BTC?
Bitcoin's short-term holders are ramping up their activity as Q4 2024 kicks off, adding $6 billion to BTC's realized capitalization in just seven days. While short-term investors seem to be taking on more risk, long-term holders are selling off, capitalizing on profits. As analysts remain divided over Bitcoin's next move, the crypto community is watching closely to see whether October will continue its bullish tradition.
Key Points:
Short-term Holders Increase Activity: Bitcoin short-term holders (STH), who have held BTC for less than 155 days, are increasing their buying positions, with realized cap spiking by $6 billion.
Long-term Holders Cash Out: At the same time, long-term holders (LTH) are likely taking profits, with a $6 billion decrease in the realized cap over the past seven days.
Risk-Taking Sentiment: Crypto analysts suggest that STHs take on more risk, betting on an upward trend as Q4 begins.
Analysts Split on Bitcoin's Next Move: Despite optimism from some short-term holders, analysts remain divided over whether Bitcoin will see a significant price dip or rally in October.
As Bitcoin's realized cap experiences a sharp $6 billion surge among short-term holders, it suggests a rising bullish sentiment among traders looking to capitalize on potential gains in Q4. However, the opposing behavior of long-term holders taking profits signals caution. With analysts offering mixed predictions, the crypto market faces a crucial period as it navigates the traditionally bullish month of October.
Source: Cointelegraph
Comentarios