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The Biggest Signal That the Bitcoin Bull Run Will Continue: $1.5 Billion - Coin Bulletin
Short-term Bitcoin investors increased their total assets to over 4 million by accumulating 1.5 million BTC since September, demonstrating the market's bullish potential.
According to CoinDesk analyst James Van Straten, short-term investors (STH) have made an average monthly purchase of 300,000 BTC worth 30 billion dollars in recent months. During this period, after rising from $60,000 to $109,000, the price of Bitcoin fell below $100,000. According to Glassnode data, STH represents investors who hold Bitcoin for less than 155 days.
Bitcoin cycle may still be ongoing
Historically, Bitcoin price has often peaked when short-term investors lose their buying appetite. This was clearly observed in the bull markets of 2013, 2017, and 2021. However, according to current data, it is noteworthy that STHs held more Bitcoin at previous cycle peaks. Short-term investors, reaching 5 million in 2013, 6.2 million in 2017, and 4.6 million in 2021, having only 4 million BTC in the current cycle, may indicate that the cycle may not have completed yet.
On the other hand, long-term investors (LTH) made 1.2 million BTC sales in the same period. These profit-taking sales after the strong rally in November played a significant role in Bitcoin trading sideways since mid-November. Experts agree that if the buying trend of STH continues, the market can sustain its upward movement.