The definition of a bull market is where long-term holders unload coins, according to the CEO of CryptoQuant
CryptoQuant CEO Ki Young Ju says Bitcoin (BTC) is currently displaying classic on-chain bull market behavior.
Key tells his 400,500 followers on social media platform
Short-term BTC holders are investors who have held their coins for less than 155 days, while long-term BTC holders are those who have kept their coins inactive for 155 days or more.
According to the analytics company’s CEO, the transfer of Bitcoin from long-term holders to short-term holders is something typically seen in previous bull markets.
“Trump has promoted Bitcoin globally.
Short term holders keep coming in, while long term ones are unloaded.
If you know, you know – this is the definition of a bull market.
Citing CryptoQuant data, Ki also says that large BTC investors with at least one full coin are gobbling up Bitcoin while smaller entities with less than one coin are offloading.
“Retail Bitcoin investors who have less than 1 BTC are selling, while others who have 1 [or more] BTC are buying.”
in order to He says It is possible that with President Trump’s “global promotional influence,” the uptrend could be extended “another couple of quarters” longer than usual, perhaps into 2026.
Typical distribution of Bitcoin:
Whales —-> retail investors
This course:
Retail Investors (OG) + Whales (OG) —-> Retail Investors (Fiat Bitcoins) + Whales (Institutions)
———-
OGs leave footprints through on-chain activity and cryptocurrency exchanges, while fiat Bitcoin (ETFs and corporate stocks) leaves footprints on the on-chain custodial wallet upon settlement.
———-
Final stage of distribution:
Retail Investors (OG) + Whales (OG) + Whales (Institutions) —-> Retail Investors (Fiat Bitcoins)
———-
I expect this won’t happen until at least mid-year. “It may even extend into next year.”
At the time of writing, Bitcoin is worth $98,847.
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