Analysis: As Bitcoin Rises, "Speculative Funds" Return to the Market

According to Cointelegraph, as Bitcoin rises, short-term Bitcoin holders (STHs) are returning to the market, signaling the entry of "speculative capital." Glassnode reports a surge in Bitcoin "hot capital." With BTC prices hovering at multi-month highs, new investors are entering the market.

Glassnode notes that the amount of Bitcoin transferred in the past week has reached its highest level since early February. This metric reflects the activity of short-term holders and serves as a reference indicator for the influx of speculative capital into the market.

In just the past week, "hot capital" has grown by more than 90%, nearing $40 billion. Since the local low at the end of March, "hot capital" has cumulatively increased by $21.5 billion. This "surge in capital turnover" highlights a shift in market sentiment.