Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert & block trade
Convert crypto with one click and zero fees
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
Glassnode: Short-term holders of Bitcoin have recently increased their activity

Glassnode: Short-term holders of Bitcoin have recently increased their activity

2024/01/18 11:57

According to Glassnode data, the activity of short-term Bitcoin holders (STH) has significantly increased recently. On January 12th, the largest-scale STH activity since May 2021 occurred, during which $6.1 billion worth of Bitcoin was transferred. This large-scale transfer is mainly attributed to profit-taking as Bitcoin reached a high point of $49,000 due to the approval of an ETF. On January 15th, in the largest single-day drop experienced by Bitcoin since the FTX crash, STH transferred a record-breaking $4 billion worth of Bitcoin. One day later on January 16th, these STH transferred $3 billion worth of Bitcoin to exchanges with profits and losses almost equaling each other - profits being $1.6 billion and losses being $1.4 billion. These numbers indicate that there is an increase in volatility and activity among short-term Bitcoin holders, suggesting passive market behavior.

1

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!