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If a now-week consolidation of several weeks is just below its highest height of $ 112,000, an interesting accumulation phenomenon occurs.
Both short-term and long-term holders have increased their stacks as different cohorts, which is unusual because these groups typically work in opposite directions, according to Glassnode data.
The diagram below from Glassnode illustrates the 155-day threshold used to classify coins as associated long-term holders (Lth) or short -lived holders (Sth).
Since June 22, the LTH supply has risen by 13,000 BTC and returns to a highlight of 14,713,345 BTC. Meanwhile, SHHS has grown their BTC supply by more than 60,000 BTC over the same period and now has over 2.3 million BTC.
According to GLASSNODE -DATA, LTH and STH cohorts normally differ because LTHs often sell to bull market strength, while sths tend to buy in the midst of the market’s greed and euphoria.
This adaptation suggests that both groups of market participants expect higher prices. If both cohorts continue to increase their supply, there is a strong opportunity for all-time highs to be surpassed.
