Expansion of short-term BTC holders suggests 'last wave' of sellers

Short-term holders expanding their BTC holdings indicate strong selling has occurred.

A recent spike in short-term Bitcoin (BTC) holders could signal a "final wave" of sellers, meaning the sellout events have unfolded, leaving the market set for months of accumulation.

The latest 'The Week On Chain' report from market analytics firm Glassnode released on Monday indicates that short-term holders (STH) have increased their holdings by 330,000 BTC since Terra's catastrophic collapse in May . As a result, they may be the canary in the coal mine signaling the way to market recovery.

During the May-June sell-off, short-term Bitcoin holders established a new trend by buying extremely cheap coins at $20,000 or less, putting them in a "financially advantageous position."

After a dramatic sellout event, #Bitcoin's ownership structure has been reshaped.

As the markets sell off, $BTC migrates from the weakest hands to the lowest intervening hands. Here we explore how to track this coin migration using age bands.https://t.co/xBxdvALRmZ

The report indicates that an outflow of around 200,000 coins from long-term holders (LTH) and net exchange outflows will...