The Bitcoin market has witnessed a significant shift in the dynamic flow of coins between short-term holders (STHs) and long-term holders (LTHs). Although Bitcoin is currently trading at approximately 20% below its all-time high, the more compelling narrative lies in the movement of coins between these two groups of investors.

LTHs are those who have held Bitcoin for over 155 days, typically accumulating during bear markets and distributing during bullish periods. According to recent data, their supply peaked at 14.9 million BTC in December 2023, before dropping to 13.9 million in April 2024. This suggests that long-term holders are currently in the process of reducing their Bitcoin holdings, which could indicate a shift in market sentiment.

Despite this trend, it is worth noting that the Bitcoin market has absorbed one million BTC in just five months, indicating that the cryptocurrency is still in high demand. Investors should continue to always, stay up-to-date with market trends and news in order make informed decisions.