Ki Young Ju: Short-term BTC holders are becoming long-term investors

Short-term Bitcoin holders, defined as those holding for less than 155 days, are evolving into long-term investors, CryptoQuant CEO Ki Young Ju stated on X. He explained that while BTC is at the same price level as two years ago, addresses that have held for six months to two years—a group that participated in the current cycle—now hold approximately 53% of the supply. This figure is up from 15% two years ago. Ki noted that in past cycles, the market bottomed when this group's holding ratio reached 68%. He added that he views the selling from Bitcoin OGs and older miners as a transfer of ownership to institutional investors and ETFs. Ki believes that who holds an asset is ultimately what matters. If the current holders can attract greater liquidity, he sees the next rally as possible at any time, suggesting that institutional investors could form a stronger demand base for asset appreciation.