Short-term bitcoin (BTC) holders have accumulated over 1.5 million BTC since September, bringing their total holdings to more than 4 million BTC, as per Glassnode’s report.
This corresponds to an average monthly accumulation of around 300,000 BTC. Throughout this period, the price of bitcoin rose sharply from $60,000 to $109,000, subsequently correcting below the $100,000 mark. Glassnode defines short-term holders (STH) as individuals who have possessed bitcoin for less than 155 days.
Key Points:
- Accumulation: 1.5 million bitcoin have been gathered by short-term holders since September.
- Distribution by Long-Term Holders: Over the same period, long-term holders have sold off 1.2 million bitcoin.
Historically, the peak price of bitcoin tends to coincide with the exhaustion of buying momentum among STHs, a pattern previously seen in market cycles of 2013, 2017, and 2021. During these peaks, the levels of STH holdings were indeed higher — 5 million BTC in 2013, 6.2 million BTC in 2017, and 4.6 million BTC in 2021 — suggesting that current STH holdings are relatively low, potentially indicating room for further market entry and subsequent growth.
In contrast, long-term holders (LTHs) who have owned bitcoin for over 155 days are currently offloading their assets, indicating a trend of selling for profit following bitcoin’s notable rally since November.
