Short-term holders are the participants who keep possession of coins for less than 155 days, as per Glassnode. During the low volatility phase throughout May, STHs were actively selling their tokens, as evidenced by the sharp drop in supply held between 3 – 6 months.
However, the beginning of June saw a slight uptick in hodling activity for this age band, lending credence to the deductions made earlier.The faith shown by short-term holders reflected the market’s positive trend. However, most investors in this cohort have been selling at a loss on average. According to CryptoQuant, the Short Term Holder SOPR has been less than 1 since the FUD that was sparked at the beginning of the week.At the time this article was written, Bitcoin was trading hands for $26,551.61, having dropped by 3% on a week-to-date basis, as perAre your BTC holdings flashing green? Check theHowever, a macroeconomic trigger or other unforeseen events could invalidate this narrative. The Federal Reserve’s upcoming meeting could be one of those.
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