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TechFlow, August 1 — Glassnode reported that over the past 24 hours, the majority of on-chain Bitcoin (BTC) spending volume came from short-term holders (STH). Short-term holders accounted for $18.24 billion (85.5%), while long-term holders (LTH) accounted for $3.1 billion (14.5%), bringing the total spending amount to $21.34 billion.
This indicates that the current sell-off is primarily driven by recent buyers rather than long-term investors.
Glassnode stated that over the past 24 hours, the majority of on-chain spending volume for Bitcoin (BTC) came from short-term holders (STH). Short-term holders (STH) accounted for $18.24 billion (85.5%), while long-term holders (LTH) accounted for $3.1 billion (14.5%), with a total spending amount of $21.34 billion. This indicates that the current sell-off is primarily driven by recent buyers rather than long-term investors.
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