New research from CryptoQuant shows a decline in long-term Bitcoin holders' exposure, while short-term holders are increasing their positions.

Long-Term Holders' Positions

Long-term Bitcoin holders, who have held the asset for more than 155 days, are likely taking profits amid growing optimism for price highs. According to CryptoQuant, there has been a $6 billion reduction in long-term holders' exposure, from $19 billion to $12 billion, indicating possible profit-taking or position closures.

Increase in Short-Term Holders' Positions

Unlike long-term holders, short-term holders, who have held Bitcoin for less than 155 days, are increasing their positions. This group has seen an increase from -$17 billion to -$11 billion, indicating a higher risk-taking appetite and increased buying activity.

Interaction of Realized Price and Spot Price

Additional analysis highlights the interaction between the realized price of Bitcoin over the past day to a week and the current spot price. At the time of writing, the realized price for this timeframe was $62,080, nearly identical to the current spot BTC/USD price, indicating potential short-term corrections due to weakening momentum.

Current shifts in Bitcoin holders' positions suggest a change in market sentiment, with long-term holders taking profits and short-term holders increasing their investments, potentially leading to price volatility.