The "last flush" of sellers, indicated by a recent rise in short-term Bitcoin (BTC) holdings, shows that capitulation events have concluded and the market is now set for months of accumulation, according to an on-chain report by blockchain analytics firm Glassnode.
STH increase position by 330,000 BTC
According to the recent "The Week On Chain" report, Since the disastrous Terra collapse in May, short-term holders (STHs) have increased their holdings by 330,000 BTC, indicating the direction of a market rebound.
Short-term Bitcoin holders have started a new trend by buying extremely inexpensive coins at or around $20,000 during the large sell-offs that began in May through June, putting them in an "advantageous financial position."
According to the analysis, exchange net outflows since May and an outflow of roughly 200,000 coins from long-term holders (LTHs) appears to have been the major causes of the rising STH supply.
All of these things point to a capitulation, and STHs "stepped...
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