Este Artículo También Está Disponible and Español.
Bitcoin has regained the momentum after a period of decline, where the price is now being traded at $ 87,992, which reflects an increase of 6.9% in the last 24 hours. The recent price movement has drawn attention to the shifting of supply dynamics, in particular between holders in the short term (STH) and long -term holders (LTH).
This trend, analyzed by Cryptoquant employee XBTManager, offers insight In the current Bitcoin market cycle and what could come.
Related lecture
Short -term versus long -term holders: a market balancing law
According to XBTManager, Bitcoin’s All-Time High (ATH) has caused an increase in STH nutrition, while the LTH Supply is falling. This transition usually indicates a market shift, because holders start selling their assets in the long term while traders accumulate in the short term.
This dynamic has played a historic role in determining peak levels, because increased activity of short -term holders suggests an increased speculative interest.
XBTManager explains that analyzing who Bitcoin buys and sells is crucial when identifying market trends. While holders sell their BTC in the long term, the offer in the hands of short -term traders, who often respond faster to price fluctuations.
This shift indicates that Bitcoin may be in a withdrawal phase after the recent ATH, which leads to a potential period of price consolidation. In addition, institutional buyers and ETF’s Bitcoin have continued to collect and behave in the same way during this phase as holders in the short term.
MicroStrategy (MSTR), a large company investor of business Bitcoin, has also followed the purchase patterns of the retail trade. Although institutional inflow supports the price of Bitcoin, XBTManager warns that a long -term consolidation period is possible due to the liquidity requirements.
The analyst suggests that as soon as STH starts to sell and LTH starts to collect again, stabilize the market, so that a more favorable environment can be created for long positions.
What is the next step for Bitcoin?
Although Bitcoin’s supply shift suggests a cooling phase, market participants look at signs of a potential trend removal. A report From cryptoquant emphasizes that the question from the real place has decreased, which means that despite recent price wines, persistent upward impulse can be difficult, unless the question returns.
In addition, IntotheLock has recently been unveiled An increase in active Bitcoin addresses after last week’s price fall. This increase suggests increased activity on the chain, often seen in periods of market transition. Whether this indicates a renewed accumulation phase or continuous volatility is still to be seen.
Last week’s drop led to an increase in active addresses and pushed the daily average to the highest level since December, when Bitcoin surpassed $ 100k.
This increase in chain activity coincided with an increase in zero-balance addresses, which indicates capitulation. pic.twitter.com/eiesdiwern
– Intotheblock (@intotheblock) March 4, 2025
For the time being, delivery trends, ETF intake and liquidity conditions are worth monitoring to assess the next step of Bitcoin. If holders restore the market and demand in the long term, Bitcoin could see renewed up momentum.
Related lecture
However, until those conditions are coordinated, XBTManager suggests that caution is needed, especially for risky transactions in the current environment.
Featured image made with Dall-e, graph of TradingView
