Opinion: As Bitcoin Rises, Speculative Funds Are Returning to the Market

As Bitcoin rallies, Bitcoin short-term holders (STHs) are returning to the market, signalling the entry of speculative capital. Glassnode says there has been a surge in Bitcoin hot capital. With the price of BTC hovering at multi-month highs, new investors are entering the market. Glassnode notes that the amount of Bitcoin transferred in the past week has reached its highest level since early February. This metric reflects the activity of short-term holders and is a reference measure of speculative capital entering the market.
In the past week alone, thermal capital has risen by more than 90 per cent to close to $40 billion. The surge in turnover, which has added $21.50 billion since local lows in late March, underlines the shift in sentiment.