Short-term holders of Bitcoin have been the main drivers of recent volatility, cashing out profits while market sentiment remains in fear. The Fear and Greed Index stands at 36, a level suggesting investors could sell at any moment. Despite this fearful backdrop, $5.25 billion in fresh capital has flowed into Bitcoin this week, with a net flow of -$250 million reflecting movement into private wallets. This week’s netflow exceeds last week’s -$46.7 million more than fivefold, signaling a more bullish dynamic. Long-term holder participation has also risen, suggesting they too have shaped recent market moves.
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