BTC, Moving from short-term investors to medium-term holders

Onchain analytics company Glassnode recently analyzed that asset movement from short-term investors to medium-term holders is actively taking place in the Bitcoin market. Glassnode stated that the RHODL ratio, which compares the movement volume of medium-term and short-term holders, has risen more than twice compared to February.

The rise of this indicator is interpreted as a signal that the speculative buying sentiment of short-term investors is weakening and medium-term holders are reacquiring Bitcoin. This indicates that the supply-demand structure within the Bitcoin market is moving in a more stable direction.

Glassnode added that this trend is similar to the transitional patterns observed after the peaks of bull markets in 2018 and 2021. As the market is entering a re-accumulation phase again, investors' attention is focused on where the next phase of Bitcoin will head.