Bitcoin climbed above $126,000 in early October and recently crashed to $60,000 before a modest recovery near $68,000. Despite the brutal swing, many entities are still buying the asset, betting on a much-anticipated price appreciation.
But a certain cohort of BTC holders has reduced this pace.
Demand Deceleration
Data shared by Alphractal revealed that the Short-Term Holder Net Position Change over 90 days is declining, despite remaining in positive territory. This means that while short-term holders are still accumulating Bitcoin, the pace of accumulation has slowed sharply in recent days.
According to the analytics platform, this deceleration points to weakening short-term demand momentum and has historically preceded periods of market consolidation, increased volatility, or broader regime transitions.
Against this backdrop, Alphractal founder Joao Wedson said that recent institutional buying has not translated into stronger short-term holder demand.
“Even with the news of Strate
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