Bitcoin Short-Term Holder Activity Hits Lowest Since 2012, Limiting Price Growth Potential

COINOTAG news, September 19, reports via TheBlock that the 30-day increment of Bitcoin short-term holders (STH) has dropped to a record low since 2012, as per data from CryptoQuant. Julio Moreno, the head of research at CryptoQuant, suggests that this downturn may hinder Bitcoin’s potential to surpass its current price bracket. The data indicates a noticeable shift in Bitcoin supply towards long-term holders (LTH), defined as addresses retaining their holdings for over 155 days. While the increase in accumulation by long-term holders typically signals an imminent price surge, Moreno stressed the necessity for new demand from short-term holders to sustain any significant price rise. He further clarified, “There is still no significant new demand from short-term holders.”