Bitcoin Buyers Faith in the Last Bull Market Remains Unshaken Controlling Nearly 16 of the Supply

In contrast to long-term Bitcoin holders, short-term holders have increased profit-taking behavior in the past week. According to a report by Cointelegraph, data from on-chain data analysis company Glassnode shows that Bitcoin’s recent breakthrough of $40,000 has triggered a rapid selling response from the short-term holder group (defined by Glassnode as entities holding coins for less than 155 days on-chain), who may have sold around $4.5 billion worth of Bitcoin in a matter of days (the amount of coins sent to exchanges by the short-term holder group).