CryptoQuant: Bitcoin's Short-Term Holders Continue to Decline, Long-Term Holders Tend to Accumulate

New research from CryptoQuant, a crypto data analytics platform, shows that the number of short-term bitcoin holders (those who have held the currency for no more than 155 days) has continued to fall since the end of May, suggesting that demand is weakening. Julio Moreno, head of research at CryptoQuant, noted that this phenomenon means that demand for bitcoin remains weak. In contrast, long-term holders appear to be taking advantage of the opportunity to accumulate, Moreno added, adding that if demand for bitcoin grows again, this dynamic could reverse, causing short-term holders to buy from long-term holders.