Historically, sharp increases in new addresses have often marked the beginning of a bull run as new retail investors flood into the market.
Despite a modest uptick in new Bitcoin addresses and increased Google searches for 'Bitcoin', retail enthusiasm is still far below previous peaks seen in 2021 and 2017.
We are witnessing a slight transition of Bitcoin from long-term holders to newer, shorter-term holders, signaling a potential new market phase.
Currently, the shift in Bitcoin from long-term holders to newer investors is minor, suggesting that long-term holders aren’t parting with significant volumes.
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