COINOTAG News, May 7 - Glassnode's latest analysis shows that with a shift in accumulation patterns, both short-term holders (STH) and long-term holders (LTH) of Bitcoin are exhibiting a notable trend. The LTH group is defined as those who have held Bitcoin for more than 155 days, and they have steadfastly adhered to a buying strategy since early March, accumulating over 250,000 BTC. This surge has increased their total holdings to over 14 million BTC, indicating that market sentiment may be improving. Glassnode's analysts emphasize that this accumulation trend highlights a weakening tendency among holders to sell Bitcoin for hedging purposes.
In contrast, STHs, typically characterized by short-term trading strategies, have also begun to accumulate, increasing their holdings by over 25,000 BTC just last week. Prior to this, Bitcoin had experienced a significant sell-off of over 200,000 BTC since February 2025, during which the price of Bitcoin also dropped sharply by 30%. Currently, Bitcoin is trading at about $97,000, suggesting that investor confidence may be recovering. Nevertheless, Glassnode highlights the critical resistance level of $99,900, indicating that as LTHs' unrealized gains approach 350%, profit-taking may intensify, thus necessitating strong buying activity to maintain upward momentum.
