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Bitcoin investors can make payments at short notice, but the loss is not yet final
Bitcoin rally: Short-term owners send more than 600,000 BTC tokens to Bitsen Bitcoin (BTC) on July 6th has reached the highest level in $ 31,395 for more than one year. This increase is promoted by the increased institutional interest in digital assets. Larry Fink, CEO from Blackrock, has provided additional optimism by using words such as "international asset" and "digitizing gold" for Bitcoin. Blackrock has submitted a new application for a Bitcoin Spot ETF to maintain the positive mood. While the market is still on the upper, a certain group of investors, namely the short -term owners (STH) of Bitcoin, has reason for ...
Bitcoin investors can make payments at short notice, but the loss is not yet final
Bitcoin rally: Short-term owners send more than 600,000 BTC tokens on stock exchanges
Bitcoin (BTC) has reached the highest level in July 6th with $ 31,395 in more than a year. This increase is promoted by the increased institutional interest in digital assets. Larry Fink, CEO from Blackrock, has provided additional optimism by using words such as "international asset" and "digitizing gold" for Bitcoin. Blackrock has submitted a new application for a Bitcoin Spot ETF to maintain the positive mood.
While the market is still on the upper, a certain group of investors, namely the short -term owners (STH) from Bitcoin, has reason to be happy. Since the beginning of the rally in mid-June, these investors have sent more than 600,000 BTC tokens on stock exchanges. This is the longest period of StH's stock exchange engagement in the recent past, in which the percentage of the sent offer was over 1 %.
There are participants who have coins for less than 155 days and, due to the market volatility, tend to give up positions. In the last 20 days, a severe decline in the offer was observed, which was kept between 1 and 3 months. This shows that STH was ready to sell their shares and secure profits. The blockchain research company Cryptoquant reports that the Short-Term Holder SOPR has been more than 1 since the beginning of the upward rally, which indicates that most of these investors sold their BTC stocks with profit. Interestingly, the overall offer of STH recorded a steady upward trend in spite of the increased exchange interaction last month. This indicates that the growing status of Bitcoin as a safe harbor could cause investors to consider BTC as a long -term investment option and not just as speculative asset for trade.At the time of publication, Bitcoin was traded at $ 30,146.39, and the Bitcoin fear and greed index indicates that the market mood is handled to "greed", which means that the market could continue to rise. The future of Bitcoin remains exciting and many investors are excited to see how the market will develop in the coming months.
Source: Glassnode