As Q4 2024 begins, short-term Bitcoin holders show optimism, despite October's slow start.
Rise in Short-term Holders' Capitalization
Short-term Bitcoin holders, defined as those holding coins for less than 155 days, are taking on more risk or increasing their buying positions. The past seven days have seen a $6 billion increase in their realized cap, indicating a more positive sentiment. However, this activity coincides with a $6 billion drop in long-term holders' capitalization, suggesting profit-taking or closing buying positions.
Opinions on Long-term Bitcoin Dynamics
Some analysts, such as the pseudonymous Mags, hold a bullish view on Bitcoin's long-term trajectory, citing the robust 3-month chart showing another close above the 2021 highs.
Analyst Opinions Split on October
Analysts are divided on Bitcoin's October performance. While some, like Rekt Capital, note signs of a short-term dip, others maintain optimism for a price rise.
Despite mixed views on October's performance, both short and long-term Bitcoin holders are actively engaging, reflecting diverse opinions and strategies.