YEREVAN (CoinChapter.com) — Bitcoin’s recent price movement has attracted a wave of new investors, as shown by a 3% rise in short-term holders (STH) over just one week. On-chain data indicates that these investors, holding Bitcoin for less than three months, now make up a larger portion of the market.
Bitcoin Realized Cap-HODL Waves Analysis. Source: CryptoQuantThis increase coincides with Bitcoin’s recovery from a recent low of $92,300 to an intraday high of $99,400 on Christmas Eve.
BTC Price Movement Near $100K Resistance. TradingViewThe data highlights significant activity from South Korean investors, where the Korean Bitcoin premium has surged to a local high of 5.12. This indicates heightened demand for Bitcoin in the region, as retail investors remain actively involved despite broader market fluctuations.
Korean Bitcoin Premium vs Price Trends. Source: CryptoQuant$100K Retest Supported by Technical Patterns
At its current level of $98,400, BTC demonstrates resilience, supported by a positive crossover between the 20 and 200 exponential moving averages (EMAs). The 4-hour RSI, which recently crossed the midpoint, reflects growing buying pressure. However, resistance near the psychological $100,700 mark remains a key hurdle to overcome before a definitive breakout can occur.
Bitcoin Price Action Near $99K Resistance. Source: TradingViewRetail Activity Rises as Institutional Flows Decline
While retail investors appear to be driving the current momentum, institutional activity has slowed. U.S. spot Bitcoin ETFs recorded $338.38 million in net outflows on Dec. 24. Major players like BlackRock and Fidelity saw significant withdrawals of $188.71 million and $83.16 million, respectively.
Bitcoin ETF Flows and Net Outflows. Source: FarsideDespite this, Bitcoin’s market cap is inching closer to $2 trillion, fueled by a 4.56% recovery over the past 24 hours. Meanwhile, increased market activity has led to $252.67 million in liquidations, with $103.22 million coming from long positions.
Short-Term and Key Levels Keep Investors Alert
Bitcoin’s price movement continues to test critical levels, with the $99,000 neckline serving as a key point of interest. A breakout above this level could lead to a retest of the $100,700 resistance, signaling further momentum. Conversely, a dip below $96,293 could suggest market hesitation.
