Bitcoin Price Rebounds, But Short-Term Holders Stay on the Sidelines
The post Bitcoin Price Rebounds, But Short-Term Holders Stay on the Sidelines appeared on BitcoinEthereumNews.com.
In recent days, Bitcoin melted up, its price rising quickly (and even rather dramatically, at times) into the upper $30,000s. This price increase has excited quite a few commentators, who seem more inclined to see it as evidence that our current bear market is perhaps nearing its end and that a new bull market may soon be upon us; however, there is a small catch to this vast price increase, and it has to do with the behavior of short-term Bitcoin holders. Bitcoin’s price may be rebounding, but short-term holders still haven’t returned. At just 2.53 million, down from 3.06 million in January, trader activity remains low. An uptick here could be an early sign of renewed interest in Bitcoin.🔗https://t.co/Vtc1OE853A pic.twitter.com/OBF2iwP3n4 — IntoTheBlock (@intotheblock) March 24, 2025 As of now, the number of short-term holders has decreased meaningfully, from 3.06 million in January to 2.53 million today. It is quite eerie how our 2.5 million short-term holders right now seems to parallel the number that we had in the bottom of our last bear market in early 2019. Bitcoin’s price may be rebounding, but short-term holders still haven’t returned. At just 2.53 million, down from 3.06 million in January, trader activity remains low. An uptick here could be an early sign of renewed interest in Bitcoin.🔗https://t.co/Vtc1OE853A pic.twitter.com/OBF2iwP3n4 — IntoTheBlock (@intotheblock) March 24, 2025 Bitcoin’s Current Market Activity Even with the recent price increases, the amount of Bitcoin being sent from one place to another has dropped dramatically over the past month, from $87 billion down to $42 billion. This drop in transfer volume underscores the much lower level of trading activity, which clearly signals that almost all of the investors in this space are simply HODLing. As with lower trading volume in fiat markets, this is a signal of pretty…
Filed under: News - @ March 25, 2025 7:21 am