Specifically, the on-chain traders stated by Darkfost represent those who are active on the spot market. With the 13% gains conceded in the recent upward trend, it reveals a cautious undercurrent beneath the surface rally.
Data shows that while in previous market tops, short-term holders’ average profit reached a peak of 232% in 2012 and 150% in 2021. As the crypto landscape slowly stabilizes, short-term holders now face a critical juncture that could define the next major move for Bitcoin. BTC may still be fluctuating close to its peak, but the unrealized profit of this cohort remains limited to just 13%.
At the time of writing, BTC is trading at $118,861, demonstrating a 0.55% increase in the last 24 hours. Within the same period, Bitcoin’s trading volume has seen a rise of 18.35%, indicating renewed bullish sentiment from investors.
