Does the division of sentiment among Bitcoin holders indicate an early phase of reaccumulation?
As the crypto market in general begins to recover from recent lows, on-chain data reveals a growing behavioral divide between long-term (LTH) and short-term (STH) Bitcoin holders.
Long-term holders (LTH) have resumed net accumulation for the first time since the last local peak, while short-term holders (STH) appear to be exiting the market.
BTC LTHs resume accumulation while STHs capitulate
In a new report, the pseudonymous CryptoQuant analyst, IT Tech, noted that a clear behavioral divide has emerged between BTC LTHs and STHs, suggesting the early formation of a reaccumulation phase.
This is based on an assessment of the Net Position Change of BTC Long-Term Holders (LTH), which, according to the analyst, has now turned positive for the first time since the last local peak of BTC.
