Short-term holders are buying Bitcoin on the dip$BTC

In recent days, short-term holders who acquired Bitcoin in the last 155 days have increased their holdings despite falling prices. They now own 2,503,798 BTC — up from 2,460,514 BTC a week ago.

They accumulated over 43,000 BTC during the sharp price drop from $123,000 to $112,000. At the time of writing, their holdings have reached a 3-month high.

This trend is reminiscent of the situation in early June when the price of Bitcoin fell from $105,900 to $104,700, and short-term holders increased their holdings from 2,275,000 BTC to nearly 2,287,000 BTC. After that, the price of Bitcoin rose to $110,000.

When new holders increase their investments during a price drop, it often indicates their confidence in an imminent rebound.$PROVE $ERA