Is Bitcoin the New Russian Landowner? You Won’t Believe Who’s Hoarding Now! 🚜💰

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What to know:

  • Since March, long-term holders have amassed over 250,000 BTC—filling their coffers past 14 million. Truly, nothing brings out the hoarder in a man like the specter of profit. 😏
  • After months of spilling their BTC into the market faster than peasants absconding from their land, the short-term folk have changed their tune: in just the past week, 25,000 BTC have flowed back into their trembling hands.

With the month of May still in its early hours, Bitcoin—the tireless steed—has gained 3%, trotting steadily after April’s robust 14% gallop. As for the inflows into those mystical Bitcoin ETFs, they’ve swelled over the last fortnight, as if every merchant and nobleman wanted a piece of the action. Meanwhile, the old guard of treasury stockpiles continues undisturbed, as stoic as a patriarch at Sunday supper.

If one peers into the deep, icy river of the blockchain, Glassnode’s augurs have declared both the short and long-sighted players are silently stacking their fortunes: the long-term believers, steadfast as Russian winters, have been hiding away coins since early March, while even the fickle short-termers have joined in—though one must imagine their commitment is as fleeting as a Petersburg summer.

Glassnode, with the patience of a monk copying scripture, explains: Long-term holders (those bold enough to hold their convictions, or BTC, for more than 155 days), have quietly stashed away a mountain—250,000 coins—since March, breaking the 14 million mark. This, they claim, is evidence that courage and perhaps a dash of madness have once again returned to the souls of investors.

Short-term holders, usually as reliable as the Moscow weather forecast, have evidently caught wind of this fever—adding more than 25,000 BTC in the past week. A reversal worth noting, considering the prior spectacle: some 200,000 BTC scattered in fearful haste since February, a move reminiscent of villagers fleeing as a noble’s carriage rattles down the road.

Now, as Bitcoin dazzles near the fabled $97,000 threshold—eyes wide, nostrils flaring—the populus from all walks of crypto-life are finding confidence, like peasants at a surprise feast. But not so fast: a great wall looms at $99,900, a resistance said to withstand all but the bravest. There, Glassnode warns, the old landowners (those LTHs with more than a 350% unrealized profit margin) may finally loosen their grip and sell, like boyars trading wheat for gold. Will the buy-side demand withstand this battle, or will the market tumble like the czar’s dreams? Place your bets, and keep your rubles—or rather, your satoshis—close. 🤠📈

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2025-05-07 17:12