It fell to the level of $ 17,600 in June. Bitcoin (BTC), It started to rise in July.
Breaking the $25,000 level over the weekend BTC It could not maintain this level and continues to trade at $ 23,964 at the time of writing, according to CoinGecko data.
On-chain analytics company glassnodeIn the report published by for the first time in over two years He said that short-term BTC investors (STH) are becoming more active than long-term BTC investors (LTH).
In a report published yesterday by Glassnode, short-term BTC the capitulation in the crypto money market has been completed with the investors starting to save and He said that the signal has been given that the market has entered a period of accumulation that will last for months.
According to Glassnode, short-term BTC investors have been bottoming out since the May crash. 300,000 BTC he bought.
“In the wave of selling that started in May and continued in June, short-term Bitcoin investors made purchases at $20,000 or below.”
Because after the Terra collapse in May TerraUSD (UST) and LUNA BTC and other cryptocurrencies fell sharply, while prices fell to cents.
In the report, short-term investors are 154 days and under. BTC Long-term investors were considered wallets holding BTC for 155 days or more.
Finally, Glassnode pointed out that short-term investors generally tend to buy high in bull markets and sell at lower levels, pointing out that this situation has reversed in recent months.