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Viewpoint: The current Bitcoin dumping is led by short-term holders, with over 85% of on-chain spending coming from new buyers.
According to BlockBeats news on August 1st, Glassnode stated that in the past 24 hours, most of the on-chain spending of Bitcoin (BTC) came from short-term holders (STH). Short-term holders (STH) accounted for $18.24 billion (85.5%); long-term holders (LTH) accounted for $3.1 billion (14.5%); the total spending amount was $21.34 billion. This indicates that the current round of dumping is mainly driven by recent buyers rather than long-term investors. Note: Spending refers to the total amount of Bitcoin moved or used on the blockchain during a certain period, rather than simply "selling" or "trading volume."