Originally published on: October 06, 2024
As the fourth quarter of 2024 kicks off, short-term holders of Bitcoin are showing signs of bullish sentiment despite a shaky start to October. In the past week alone, short-term holders have seen a $6 billion increase in realized capitalization.
According to CryptoQuant contributor Amr Taha, short-term holders, defined as those who have held Bitcoin for less than 155 days, are likely taking on more risk or increasing their buying positions. The recent surge in the seven-day change in STH realized cap signifies a shift in sentiment as the market transitions into the new quarter.
While short-term holders appear optimistic, data suggests that long-term hodlers may be seizing the opportunity to offload some of their holdings. Over the same period, long-term holders, who have held coins for at least 155 days, saw a $6 billion decrease in realized cap, indicating profit-taking or closing buying positions.
Despite conflicting views among analysts on Bitcoin’s performance in October, historical patterns suggest strength during this month. While some anticipate a short-term dip, others remain bullish on Bitcoin’s longer-term price prospects.
It’s important to note that this article does not offer investment advice, and readers should conduct their own research before making any financial decisions. As the crypto market continues to evolve, staying informed and cautious is key to navigating these volatile waters.
