BTC below 40k, short-term holders drive volatility while geopolitics spook markets

With bitcoin trading mostly sideways during the weekend, without any major movement, the top cryptocurrency by market cap still fell under the important $40,000 mark. According to analysts’ data, short-term holders continue to be the main driver of bitcoin’s (BTC) volatility.
The market price of bitcoin stayed around $44,000 during most of last week, printing a seven-day top on Wednesday at just over $44,500, but started to decrease on Friday. Bitcoin barely managed to hold above $40,000 over the weekend but fell through on Sunday. Over the last seven days, bitcoin is down about 8%, at the moment of writing bitcoin is up 2.2% in the past 24 hours, trading at $39,145.
Short-term holders main driver of BTC volatility
According to analysts at both Glassnode and IntoTheBlock, short-term holders are the most likely cohort to spend their coins in response to volatility and continue to be the main driver of BTC volatility. While long-term holders remain unfazed, the balance held by trader

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