Amnasindhu

07/19 15:12

BTC Holder Rotation Signals Potential Shift in Mar

BTC Holder Rotation Signals Potential Shift in Market Participation

A separate analysis from CryptoQuant analyst IT Tech sheds light on another dimension of Bitcoin’s current market structure: holder behavior.

In a post titled “Holder Rotation,” IT Tech notes that long-term holders, those who have held BTC for more than 155 days, have recently begun net distribution, meaning they’re selling more than accumulating.

Conversely, short-term holders are showing net accumulation behavior once again, a dynamic often seen in late-stage rallies. This shift between long-term and short-term holders has historically served as a warning signal.

Similar handoffs were observed in April 2021 and November 2023, both of which preceded local tops or cooling phases. While this doesn’t necessarily confirm a reversal, it highlights the need to monitor supporting metrics such as exchange inflows and funding rates.

“It’s a classic profit-taking pattern from seasoned wallets, while newer market participants may be entering due to rising prices,” IT Tech wrote.

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