Divergence between long-term and short-term holders could set up a bullish squeeze

Quick Take

• Long-term holders are defined as holding longer Bitcoin for more than 155 days, which would be from at least December 7th, 2022.
• Currently, 14.3 million Bitcoin are held by long-term holders, which is an all-time high; they bought relatively near the bottom of the cycle and have already been held through a banking collapse in the U.S.
• A clear divergence started on April 12, as long-term holders continued to accelerate purchasing while short-term holders were offloading.
• Currently, short-term holders hold around 2.7 million Bitcoin, which is near all-time lows.
• STH supply is currently on a crucial long-term structure, which usually occurs during bear market lows.
• CryptoSlate expects long-term holder supply and supply last active more than a year ago to continue to rise.

The post Divergence between long-term and short-term holders could set up a bullish squeeze appeared first on CryptoSlate.