Key points:
Bitcoin’s most recently-moved supply segment is increasing as higher prices see an influx of “speculative capital.”
“Hot supply” has doubled in just five weeks versus local lows in March.
Active address numbers have yet to mimic a classic bull market comeback.
Bitcoin (BTC) short-term holders (STHs) are back in the game as a “speculative capital” enters the market.
In an X thread on April 29, onchain analytics firm Glassnode reported a surge in Bitcoin’s so-called “hot capital.”
Bitcoin sees “surge in capital turnover”
New investors are entering the market as BTC price action circles its highest levels in several months.
Glassnode reveals that the sum of coins which last moved up to a week ago has reached its largest figure since early February.
“This metric captures short-term holder activity and is a proxy for speculative capital entering the market,” it explains.
In the past week alone, hot capital