As Bitcoin
Continues a now multi-week aggregation just below the full time of $ 112,000, an interesting phenomenon in accumulation takes place.
Both short -term and long -term holders increase their stacks as unique cohorts, which are not uncommon because these groups usually act in opposite directions, according to glassnode data.
The chart below from glassnode describes the 155-day threshold used to sort coins as belonging to long-term holders (Lth) or short -term holders (Sth).
Since June 22, the LTH supply has increased by 13,000 BTC, returning to a full time of 14,713,345 BTC. Meanwhile, at the same time, STHs grew their BTC supply over 60,000 BTC and are now holding more than 2.3 million BTCs.
According to glassnode data, LTH and STH cohorts are usually different because LTHS often sell in the strength of the bull market, while STHs tend to buy amid greed and euphoria.
This alignment suggests that both groups of market participants depend on higher prices. If both cohorts continue to increase their supply, there is a strong probability that all times high will be overcome.
