Investors who have held Bitcoin for a longer timeframe are now selling it to secure immediate profits, according to Glassnode.
The on-chain intelligence platform studied Bitcoin entities and the supply they hold in their wallets. It later divided the outcome into two categories: Long-Term Holders and Short-Term Holders.
As Glassnode explained, the Long-Term Holders, or LTH, are those wallets that have held Bitcoin for more than 155 days in a row. Similarly, the Short-Term Holders (STH) refers to those wallets that transferred their Bitcoin tokens to other addresses within the first 154 days after purchasing them.
The platform pitted both LTH and STH readings against one another, finding that the former’s supply plunged to 12.3 million BTC on November 19 from 12.6 million BTC on October 23. On the other hand, STH supply