Bitcoin short-term holders hit 30-day profit streak as bull-market odds improve: CryptoQuant
Bitcoin short-term holders approached a full month in partial profit as analysis saw improving odds of an enduring bullish BTC price reversal.
Bitcoin short-term holders approached a full month in partial profit as analysis saw improving odds of an enduring bullish BTC price reversal.
Bitcoin (BTC) speculators have held onto profits for nearly a month in what new analysis sees as a key sign of market strength.
Data from onchain analytics platform CryptoQuant shows that a subset of Bitcoin’s short-term holder (STH) cohort has been in profit since Aug. 16.
“This is the first time STH have sat in profit territory for a sustained stretch since the market top. The last time was in January, but that episode didn’t last more than a week. In May, losses held by STH remained dominant,” it wrote in an accompanying blog post.