As Bitcoin
Now, a now multi-week merger is at an all-time high below its $112,000 record, an interesting cumulative phenomenon.
According to GlassNode data, both short-term and long-term holders increase the stack with different groups of people, which is unusual because these groups usually work in the opposite direction.
The following diagram for the Glass Festival illustrates the 155-day threshold for classifying coins as long-term holders (LTH) Or short-term holders (STH).
LTH supply has increased by 13,000 BTC since June 22, returning to an all-time high of 14,713,345 BTC. Meanwhile, STH increased its BTC supply by more than 60,000 BTC during the same period, and now owns more than 2.3 million BTC.
According to the Glass Section data, the LTH and STH cohorts often diverge, as LTH is often sold into the intensity of a bull market, while STH tends to buy in a market greedy and euphoric market.
This consistency suggests that both groups of market participants expect higher prices. If both queues continue to increase supply, it is likely to exceed the all-time high.
