Recent data from Glassnode indicates a slowdown in selling by short-term holders (STHs) of Bitcoin, which may signal a change in market behavior.
Status of Short-Term Bitcoin Holders
The spent volume of Bitcoin held for less than 155 days has dropped to 45%, marking the first time it has fallen below the neutral zone in weeks. According to Glassnode's report, 70% of STH supply is in profit.
Holding Strategy Amid Price Fluctuations
Historically, short-term holders tend to react quickly to price volatility, often leading to cascading sell-offs. However, the current situation suggests a possible cooling off in the market. "The market is in a relatively balanced position," Glassnode noted. The metrics align with the middle stage of past bull markets.
Bullish Year-End Projections
Despite recent corrections, several analysts maintain an optimistic outlook for Bitcoin through the end of the year. The Checkonchain platform notes that short, sharp dips may be a typical signal confirming that the bull market remains intact. Additionally, Tom Lee, co-founder of Fundstrat, suggests that Bitcoin could reach $250,000 by the end of 2025.
The slowing sales from short-term Bitcoin holders may indicate a shift toward a more balanced market situation, while analysts' optimistic projections sustain hope for potential growth in the future.
