Glassnode: bitcoin short-term holders are ‘in the money’
Recent data from Glassnode, an on-chain analytics firm, reveals that short-term holders (STHs) of bitcoin are currently posting more profits than losses, and are in green, “making money.” STHs are mostly traders, eager to clip bitcoin ’s volatility in their quest to make money . They mostly hold for short periods, riding the uptrend before liquidating and realizing profits when prices move against them. Bitcoin STHs are making money Based on the “realized profit/loss ratio,” a trading indicator that examines the on-chain history of on-chain BTC within a given time frame, present readings suggests that STHs are selling their coins at a profit rather than a loss, an observation that comes when prices have been volatile in the first week of July. The #Bitcoin Short-Term Holder cohort remains convincingly within a profit driven regime, with profit taking events a significant 55.6X larger than loss taking events. pic.twitter.com/ernmv7AsfU — glassnode (@glassno...