Bitcoin bull market sees wealth shift to new investors

Bitcoin’s ongoing bull market has witnessed a notable shift of wealth from long-term holders (LTHs) to new investors, CryptoSlate reported, citing a report by blockchain data platform Glassnode. Long-term holders have realized record profits, while fresh demand has effectively absorbed the supply, driving sustained upward momentum. In 2024, coins held for six to 12 months accounted for $27.3 billion in realized profits. Despite significant sell-side pressure, short-term holders (STHs) have demonstrated resilience during market corrections by preventing panic selling and helping to stabilize the market. Strong institutional participation, alongside robust retail demand, has reduced volatility and bolstered liquidity, with Bitcoin’s price surging over 150% in 2024. However, Glassnode suggests that the market has yet to reach the typical euphoria of bull market peaks, leaving room for further upside potential.