Bitcoin trends: ”Long-term holders take profits, short-term holders take risk”

On the 5th, Crypto Quant, a cryptocurrency analysis company, announced that Bitcoin is a long-term holder.
The report observed the movements of long-term holders and short-term holders and noted that, on average, long-term holders are tending to take profits.
Long-term holders are defined as wallet addresses that have held Bitcoin for 155 days (approximately 5 months) or more, and have reduced their holdings during the recent market crash or sudden rise and fall.
Amr Taha, who contributed the analysis to CryptoQuant, said:
Recently, the realized market capitalization of long-term holders has plummeted by $6 billion. This is due to long-term holders either locking in profits or buying into long positions.
Recent trends among long-term holders suggest they don't believe the price of Bitcoin will rise to new all-time highs.
Meanwhile, the opposite was true for short-term holders, whose realized market capitalization soared by $6 billion.
This is because short-term holders are increasing their holdings and are more likely to take on more risk or increase their long positions.
This observation confirms the short-term fluctuations that have characterized the price of Bitcoin recently. It takes a while for Bitcoin to make a big surge.
It also suggests that it may take a long time. Also, the realized price is calculated by valuing each bitcoin at the price it last moved, not the current price.
If the price moves up or down by a larger range than the realized price, it may indicate a support or resistance level.
Subsequently, there are multiple interactions between prices and realized prices within a relatively short period of time.
This suggests that traders are paying close attention to this level. This is because the price tried to surpass the realized price and then lost momentum, leading to a short-term correction.
Recently, an old Bitcoin whale transferred 500 million yen worth of Bitcoin to Kraken, a US cryptocurrency exchange.
It was reported that in relation to Bitcoin, there is currently active betting on the identity of “Satoshi Nakamoto,” the inventor of Bitcoin, on PolyMarket, a decentralized prediction market.
As shown in the HBO documentary, the "Who Will Call Satoshi" bet raked in over $810,000 in bets in the first two days.
49.5% predict that Len Sassaman, a computer scientist who died in 2011, will turn out to be Satoshi.
The HBO documentary, "Money Electric: The Secrets of Bitcoin," scheduled to air on October 8, also focuses on Satoshi's true identity.