Bitcoin (BTC) has now been up 3% since early May, after winning 14% in April.
Entrances to the BTC (ETF) Stock Exchange (ETF) has accelerated in the past two weeks, while the coherent accumulation of the Bitcoin Treasury continues to support the market.
From the chain’s point of view, Glassnode data show that short -term holders (STH) and long -term holders (LTH) have increased their supply assets, LTHs since early March, while STH began to accumulate in last week.
Glassnode defines LTHs as investors who hold the BTC for 155 days or more, while STHs lasted less than 155 days. In their latest weekly report, Glassnode notes that LTHs have increased their assets by more than 250,000 BTCs, since the beginning of March, bringing the total cohort offer to more than 14 million BTC.
“This suggests that a certain degree of confidence has returned and that accumulation pressures prevail over the propensity for investors to spend and manage,” according to Glassnode.
While STH often acts in opposition to LTHs, they also showed signs of renewed accumulation, adding more than 25,000 BTCs in last week. This marks a reversal of the net distribution of more than 200,000 BTC which started in February 2025, coinciding with the start of the 30% Bitcoin draw.
The BTC currently flirting with the level of $ 97,000, this wide -based accumulation indicates a restoration of confidence between the cohorts of investors. However, Glassnode also identifies a major level of resistance at $ 99,900, where long-term spokespersons can start making profits when they start to contain a profit margin of + 350% not made, according to Glassnode data.
“As such, we can anticipate an increase in the pressure of the sale as we approach the market as this area approaches, which makes it an area which will probably require substantial purchase demand to absorb distribution and maintain a dynamic upwards.”
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