KEYTAKEAWAYS
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Bitcoin short-term holders add 1M BTC since August, signaling bullish sentiment as investors buy despite unrealized losses.
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Bitget’s Gracy Chen predicts Bitcoin could soar past $150K if the Fed pauses QT and starts cutting rates.
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Uniswap’s fee switch could trigger $38M monthly UNI buybacks, boosting its token value and protocol revenue potential.
CONTENT
SHORT-TERM HOLDERS CONTINUE ACCUMULATING BITCOIN
On November 11, CryptoQuant analyst Axel reported that since August, Bitcoin short-term holders (STH) have increased their holdings by 1 million BTC, reaching 5.4 million BTC—a 24.7% surge. Despite most of these coins currently being held at a loss, new investors continue to enter the market and buy.
This group’s behavior is often closely tied to price swings and market sentiment. They are typically seen as the market’s “smart money” or early signalers, whose moves tend to precede broader price trends.
IF THE FED PAUSES QT AND STARTS A RATE-CUT CYCLE IN DECEMBER, BITCOIN COULD HIT NEW ALL-TIME HIGHS
On November 11, Forbes cited Bitget CEO Gracy Chen’s latest comments on ETF inflows and institutional capital, noting that Bitcoin’s key price driver has shifted to U.S. liquidity conditions. Once the U.S. government ends its shutdown (which, according to Polymarket, could happen by November 14), fiscal spending and liquidity are expected to return.
If the Federal Reserve pauses quantitative tightening (QT) and begins rate cuts in December, a new Bitcoin bull market could formally begin. Back in January, Chen boldly predicted that “BTC could surpass $130K and potentially climb to $150K–$200K.”
While that target hasn’t been reached yet, she emphasized that once fiscal and monetary easing resume, Bitcoin reaching $150K is only a matter of time—whether later this year or early next. “I’m personally all-in again,” she said, “and I’m ready to witness Bitcoin hitting a new all-time high together with everyone.”
IF UNI ENABLES THE FEE SWITCH, ITS 30-DAY BUYBACK COULD REACH $38 MILLION
On November 11, Megaeth member @bread_ posted on X that based on historical data, if Uniswap (UNI) enables the fee switch—allocating 0.25% of the 0.3% LP fee to liquidity providers and 0.05% to UNI holders—the protocol could generate about $2.8 billion in annualized fees.
This would translate to roughly $38 million in monthly UNI buybacks. That figure would surpass PUMP’s $35 million monthly buyback but remain below HYPE’s $95 million.
