Even short-term holders are holding onto their assets for longer than usually right now, indicating that even they expect the market to go up further.

Generally we always seem to be associating short-term holders with people that buy the asset and quickly sell it as they have no believe in any kind of a long-term value and are often very bearish towards the assets, hence the name short-term holder. This may not be true at all as short-term holders are present even in bull markets and that often in en even larger amount.

One on-chain datapoint of short-term holders that distinguishes bull market from bear market is the so-called “Dormancy“, which is the holding period short-term holders hold onto their coins on an average. Yes, even short-term holders can hold for a longer period or shorter one.

• STH (short-term holder) holding for a short period = bear market as the depressing price movements motivate for a quicker sale.
• STH holding for a longer period = bull market as the upwards price movements motivate them to hold longer for more profits

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Chart imported from Glassnode Insights

Now, this chart shows the shift between STH holding longer and shorter and just recently we have got a shift upwards. SHort-term holders are holding longer onto their coins right now as they hope for even greater returns.

The fact that EVEN short-term holders are move confident in the market just shows how much more confidence in the market has been restored even from the most bearish groups. Let me know about your opinions: