From September 27 to October 2, Bitcoin increased 9.48% and then decreased 5%. We explore the roles of short-term and long-term holders, especially their different reactions to the market. Short-term holders are sensitive to price fluctuations, while long-term holders are often more resilient.

Long-term holders hit an all-time high, while short-term holders are at a nearly eight-year low.

In this chart (LTS/STS), it is clear to see the supply of Long Term Holders (LTS) reaching an all-time high, 15.6 million bitcoin. In contrast, the supply of Short-Term Holders (STS) dropped to a nearly eight-year low, not seen since November 2015, of 3.8 million bitcoin.