According to Cointelegraph, as Bitcoin prices rise, there is an influx of 'speculative capital' into the market, with an increase in the supply segments recently moved. Short-term holders are becoming active again, and hot capital has doubled in five weeks.
Glassnode reported in an X thread on April 29 that Bitcoin's 'hot capital' has surged. New investors are entering the market as BTC prices approach multi-month highs. In the past week, hot capital has increased by over 90%, nearing $40 billion.
Glassnode noted that hot capital has increased by $21.5 billion from the low of $17.5 billion on March 23, indicating a significant change in market sentiment. Although prices are close to $95,000 and short-term holders are in profit, a full-blown bull market has yet to arrive.
Glassnode's 'Market Pulse' analysis shows that despite the recovery in transfer volume and fees, daily active addresses remain low, indicating that network participation is still rebuilding.
