Bitcoin (BTC) has now increased by 3% since the beginning of May, after obtaining a gain of 14% in April.
Tickets in funds quoted in BTC exchange (ETF) have accelerated in the last two weeks, while the consistent accumulation of Bitcoin’s treasure continues to support the market.
From a chain perspective, Glassnode data shows that both short -term headlines (STH) and long -term headlines (LTHS) have increased their supply holdings, LTHS since the beginning of March, while STHS has begun to accumulate during the past week.
Glassnode defines LTHS as investors who have had BTC for 155 days or more, while STHS has remained for less than 155 days. In its latest weekly report, Glassnode points out that LTHS has increased its holdings by more than 250,000 BTC, since the beginning of March, carrying the total cohort supply to more than 14 million BTC.
“This suggests that a degree of confidence has returned, and accumulation pressures are exceeding investors to spend and eliminate the risk,” according to Glassnode.
While Sths often acts in opposition to LTH, they have also shown signs of renewed accumulation, adding more than 25,000 BTC last week. This marks an investment of the net distribution of more than 200,000 BTC that began in February 2025, coinciding with the start of 30% Bitcoin reduction.
With BTC currently flirting with the level of $ 97,000, this broad base accumulation indicates a restoration of confidence in investor cohorts. However, Glassnode also identifies an important level of resistance at $ 99,900, where long -term holders can start obtaining profits when they begin to maintain a profit margin of +350%, according to Glassnode data.
“As such, we can anticipate an increase in the pressure on the side of the sale as the market approaches this area, which makes it an area that will probably require a substantial demand on the purchase side to absorb distribution and maintain the impulse up.”
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