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Short-term bitcoin holders, defined as those holding BTC for up to six months, are declining, according to Joao Wedson. This behavior suggests that recent investors are distributing their BTC, a pattern typically seen during bear markets.
At the same time, bitcoin held by long-term investors—those with holdings for more than six months—is increasing. This indicates that more experienced market participants continue to accumulate BTC while newer holders exit their positions.
Wedson previously reported that Alpha AI assessed bitcoin's short-term prospects as neutral to slightly bullish, citing weakening selling pressure based on on-chain data. He has also discussed how the 2Y SMA divided by two is used by analysts to identify crypto bear market lows during downturns. His past commentary has focused on quantitative signals and measures of market volatility.