New data from Alphractal suggests that short-term Bitcoin holders—those who have held BTC for up to one month—are largely on the sidelines, a behavior that typically contrasts with euphoric, high-momentum phases of a bull market.
Currently, short-term holders control just 2.36 million BTC, a stark drop from previous peaks:
This lower level of short-term ownership aligns more closely with bear market behavior, where retail and speculative interest tends to cool, and broader sentiment is subdued.
What It Signals
Historically, these investors rush in during bullish breakouts, amplifying price momentum. Their current absence implies that the market might still be in a “disbelief” phase, even as prices hover near or above historical highs.
Rather than rushing in during rallies, as they did in 2021, many short-term traders appear hesitant—perhaps uncertain about sustainability or awaiting confirmation of a true breakout.
The Bigger Picture
This divergence between price performance and investor participation raises questions:
Until then, the market remains in a state of cautious optimism—driven more by longer-term conviction than by short-term speculative mania.
Kosta Gushterov
Reporter at Coindoo
Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a “detective-like” mindset. He not only covers a wide range of trending topics, he also creates reviews, PR articles and educational content. His work has also been referenced by other news outlets.
Source: https://coindoo.com/short-term-bitcoin-holders-exit-the-scene-what-this-says-about-market-sentiment/