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According to data from Glassnode, a blockchain

analytics firm, short-term holders (STHs) of

Bitcoin have been accumulating more coins since

early December 2023, while long-term holders

.(LTHs) have been reducing their exposure

STHs are defined by Glassnode as investors who

have held Bitcoin for less than 155 days. They

have increased their holdings from 2,236,571 to

2,682,061 Bitcoin, a substantial increase of

445,490 BTC, or roughly 20%, between Dec. 3,

.2023 and Feb. 19. 2024

Long/Short-Term Holder Threshold | Source: Glassnode