Recent data from Glassnode indicates significant changes in Bitcoin holder behavior, which may signal the resumption of a bull market in cryptocurrencies.
Profit-Taking Behavior of Short-Term Holders
According to Glassnode data, short-term Bitcoin holders, those who hold assets for less than 12 months, have become the primary force cashing in on profits. They accounted for 83% of all realized profits, with the 6-to-12-month holder group realizing $904 million in daily profit.
Analysis of Bitcoin Cycle Indicators
This market critical moment is also highlighted in a report from CryptoQuant, which analyzes the Bitcoin Cycle Indicators (IBCI). After peaking above 75% — signaling distribution — the IBCI has since corrected and is now near the 50% zone. This point often marks a transitional phase between consolidation and potential upward growth.
Future Predictions
Historically, the current equilibrium phase often precedes a recovery of bullish momentum. The lack of investor euphoria and the steady increase in Bitcoin prices suggest a cooling market rather than a collapse. The IBCI signals the end of bull cycles only when it consistently reaches the 100% territory — something that has yet to occur. With Bitcoin still hovering near its all-time highs, the market may be gearing up for another upward impulse.
Changes in short-term Bitcoin holder behavior and current IBCI indicators suggest a potential return to the bull market. This period may serve as an important indicator for future price movements in Bitcoin.
