Bitcoin Short-Term Holders Enjoying Profits, Glassnode Data Shows
Recent data from Glassnode reveals that short-term holders (STHs) of bitcoin are currently making money and posting more profits than losses. This is based on the “realized profit/loss ratio,” which indicates that STHs are selling their coins at a profit rather than a loss. STHs are traders who hold bitcoin for short periods, taking advantage of its volatility to make profits.
Key Points:
– STHs are currently in green, making more profits than losses.
– The 7-day EMA of the bitcoin STH realized profit/loss ratio has been consistently above 1, indicating their profitable selling.
– STHs typically liquidate their coins once they are in profits, unlike long-term holders (HODLers) who hold regardless of market conditions.
– This ratio suggests that more STHs could be selling for profits, especially during market rallies.
– During bearish phases, the ratio has remained below 1, reflecting selling at a loss.
Options traders also show bullish sentiment, with more “calls” than “puts” and a high Bitcoin Options open interest. This suggests optimism for a recovery in bitcoin’s price.
Hot Take:
Short-term holders of bitcoin are currently enjoying profits, taking advantage of the volatility in the market. This data highlights the importance of timing and active trading strategies. It also provides insights into the sentiments and expectations of different market participants. Overall, it is an encouraging sign for bitcoin investors and traders.
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