Glassnode: Bitcoin's Hot Capital Surge, Short-Term Holders Return to the Market

Bitcoin's hot capital has surged, short-term holders are returning, and market sentiment has changed significantly, but a full bull market has not yet arrived.

According to Cointelegraph, as Bitcoin prices rise, there has been an influx of 'speculative capital' into the market, with an increase in recently moved supply segments. Short-term holders have become active again, with hot capital doubling within five weeks.

Glassnode reported on April 29 in a thread on X that Bitcoin's 'hot capital' has surged. New investors are entering the market as BTC prices approach several-month highs. In the past week, hot capital has increased by over 90%, nearing $40 billion.

Glassnode pointed out that hot capital has increased by $21.5 billion from a low of $17.5 billion on March 23, indicating a significant change in market sentiment. Despite prices approaching $95,000 and short-term holders making profits, a full bull market has not yet arrived.

Glassnode's 'Market Pulse' analysis shows that although transfer volumes and fees have recovered, daily active addresses remain low, indicating that network participation is still being rebuilt. #币安Alpha上新 $BTC