Bitcoin Short-Term Holders Add 87,000 BTC in 30 Days Through Oct. 4

Bitcoin (BTC) short-term holders added 87,000 BTC over the 30 days through Oct. 4, bringing their holdings to 3.94 million BTC. Their holdings have remained above the previous month’s level for seven consecutive weeks.

The indicator has remained positive since Aug. 18, showing that the supply of Bitcoin transferred in the past six months is increasing.

The group’s estimated average cost was about $74,100, roughly $1,000 higher than a week earlier. As Bitcoin’s price increased, the cohort’s estimated entry cost also rose. Short-term holders were about 15% in aggregate unrealized profit, little changed from a week earlier and below the 19% peak recorded Sept. 22.

If Bitcoin’s price falls below $74,100, short-term holders would have an aggregate unrealized loss. If the 30-day change in their holdings also turns negative, the group’s holdings would begin contracting, a shift that could further weaken market structure.