$BTC

According to Cointelegraph, as Bitcoin prices rise, there is an influx of 'speculative capital' into the market, with recently moving supply segments increasing. Short-term holders are reactivating, and hot capital has doubled in five weeks.

Glassnode reported on April 29 in an X thread 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 increased by over 90%, nearing $40 billion.

Glassnode noted that hot capital has increased by $21.5 billion from a low of $17.5 billion on March 23, indicating a significant shift in market sentiment. Despite prices approaching $95,000, short-term holders are profiting, but a full bull market has yet to arrive.

Glassnode's 'Market Pulse' analysis shows that despite the recovery in transfer volumes and fees, daily active addresses remain low, indicating that network participation is still being rebuilt.