Dip Attracts Bitcoin Value Seekers in April, With Veteran Investors Showing Steadfast Conviction

BTC Investor Behavior Signals Confidence as Short-Term Buyers Return and Long-Term Holders Strengthen Positions

Bitcoin’s price action may be subdued in early April, but underlying on-chain data reveals a growing sense of conviction from both recent entrants and seasoned holders.

Glassnode data shows that short-term holders—defined as those who acquired BTC within the past 155 days—have begun accumulating once again, adding roughly 15,000 BTC to their wallets since the start of the month. This marks a shift from their typical behavior, which often sees selling during periods of uncertainty or downward price movement. Despite BTC still trading approximately 25% below its all-time high, these investors appear to be buying the dip, indicating a more value-oriented mindset.

This recent accumulation follows a broader distribution phase. Since February, short-term holders offloaded around 280,000 BTC—much of it likely driven by profit-taking after the Q4 2024 rally and panic-selling as BTC retraced sharply from its January peak.

Meanwhile, long-term holders—those with coins held for over 155 days—have shown even greater resolve. Since February, they’ve accumulated an additional 400,000 BTC, with modest gains continuing into April. Their total holdings now exceed 13.5 million BTC, highlighting their continued confidence in Bitcoin’s long-term trajectory.

Despite lackluster price movement this month, Bitcoin has held steady while broader equity markets, such as the Nasdaq, have declined 3.5%. With equity futures pointing lower, BTC’s relative strength and continued investor accumulation suggest underlying bullish momentum that could surface once macro headwinds ease.

About The Author

ctleditor

See author's posts