Exchange flows show short term buyers preparing for volatility while long term hodl
Summary
Bitcoin's recent surge indicates high anticipation for the SEC's decision on the first-ever spot Bitcoin ETF. On-chain data shows a pattern of cautious optimism, with a notable decrease in Bitcoin in exchange wallets, suggesting investors are preparing for long-term holding. There is a significant change in behavior between short- and long-term holders. The outcome of the SEC's decision could potentially reshape the cryptocurrency landscape, especially if supply constraints coincide with a high-demand market post-decision.
