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From:
Glassnode Insights - On-Chain Market Intelligence
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Quantifying Short-Term and Long-Term Holder Bitcoin Supply
https://insights.glassnode.com/quantifying-bitcoin-hodler-supply/
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bitcoin analysis &
We introduce a new methodology to classify Bitcoin supply owned by long-term investors and short-term traders, and create a set of on-chain metrics that show when these two investor types are in a state of profit or loss.
