The short-term supply of Bitcoin has reached an all-time low, according to data. Bitcoin short- term supply reaches all- time low. This could indicate that, despite the coin’s recent climb to $57k, investors are hesitant to sell at this point.
Bitcoin Short-Term Supply Records All-Time Lows
According to the most recent Arcane Research weekly report, BTC short-term supply is currently hovering near all-time lows.
The term “short-term supply” refers to the supply of coins transferred on the chain in the last three months.
When the value of this indicator rises, it indicates that there are a lot of short-term investors in the market right now hoping to make a quick profit.
A decrease in the metric’s value, on the other hand, indicates that not many holders are interested in selling right now and are instead waiting for longer gains.
Now, here’s a graph that shows the trend in Bitcoin’s short-term supply over the course of its entire history:
As shown in the graph above, short-term supply has been declining in recent months and has now reached previously unheard-of lows.
Looking at the chart, it appears that the indicator only showed values close to this low in 2015.
On September 30th, the short-term supply of BTC was around 14.7%. This is the lowest value it has ever had. In the two weeks since then, the metric has risen slightly to 14.9%.
The reason for this minor increase is Bitcoin’s current rally, which has seen the coin break $47k for the first time since May of this year.
One thing to keep in mind is that this indicator is based on coin movement on the blockchain. As a result, if some investors keep their BTC on exchanges rather than personal wallets, the metric will not rise when they sell their coins on the exchange.
As a result, short-term supply isn’t the most accurate indicator of whether or not investors are profiting. Nonetheless, it demonstrates that many holders with their own wallets are delaying selling for the time being because they believe the price will rise further.
BTC Price
At the time of writing, the price of Bitcoin is hovering around $54.9k, up 0.7% in the last seven days. The value of the cryptocurrency has increased by 24.6% in the last month.
The graph below depicts the price of BTC over the last five days:
Source: NEWSBTC
