Short-term holders of Bitcoin (BTC) are showing signs of bullishness as Q4 2024 begins, despite a slow start in October. In the past week, short-term holders have seen a $6 billion increase in realized capitalization.
Bitcoin STH realized cap sees “sharp increase”
Short-term holders, who have held their Bitcoin for less than 155 days, are potentially increasing their buying positions, according to CryptoQuant contributor Amr Taha. The seven-day change in STH realized cap saw a $6 billion increase, indicating a more positive sentiment among short-term holders as the crypto market moves into Q4.
However, data suggests that long-term holders may be selling some of their holdings during this time.
Analysts split on Bitcoin’s next move
While October is historically a strong month for Bitcoin, analysts have differing opinions on its performance this month.
Pseudonymous crypto trader Rekt Capital believes Bitcoin may experience a short-term dip, while others are more bullish on the long-term price outlook.
Source: Rekt Capital
Overall, short-term holders are optimistic while long-term holders may be taking profits or closing positions. It is important for readers to conduct their own research before making investment decisions as all investments involve risk.