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It continues a consolidation of several weeks just below its historical maximum of $ 112,000, an interesting accumulation phenomenon is occurring.
Short and long term holders have increased their batteries as different cohorts, which is unusual because these groups generally act in opposite directions, according to Glassnode data.
Glassnode’s table below illustrates the 155 -day threshold used to classify coins as belonging to long -term holders (LTH) or short -term headlines (ST).
Since June 22, the LTH SUPPLY has increased by 13,000 BTC, returning to a historical maximum of 14,713,345 BTC. Meanwhile, during the same period, STHS has increased its BTC supply by more than 60,000 BTC and now has more than 2.3 million BTC.
According to Glassnode data, the LTH and STH cohorts generally diverge because the LTH are often sold in the force of the upward market, while the STH tend to buy in the midst of the greed and the euphoria of the market.
This alignment suggests that both groups of market participants expect higher prices. If both cohorts continue to increase their supply, there is a great possibility that the maximums of all time are overcome.
