Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin HODLer
Balance Drops 9.8%: How
It Compares
With Previous Cycles
Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin HODLer Balance Drops 9.8%: How It Compares With Previous Cycles
by Keshav Verma
3 minutes ago
in Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin News
0
Data shows the Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin HODLer balance has registered a drop of around 9.8%
this bull run. Here s how this figure looked for previous cycles.
Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin HODLers Have Seen Their Holdings Go Down Recently
According to data from the market intelligence platform IntoTheBlock , the
Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin long-term holders have gradually been decreasing their total balance
recently.
Related Reading: XRP Jumps 69% As Whales Go On $1.6 Billion Buying Spree
The long-term holders (LTHs) here refer to the BTC investors
who have been holding onto their coins for at least one year, without
transferring or selling them a single time.
Statistically, the longer a holder keeps their coins still, the less likely
they become to sell the tokens at any point. As such, the LTHs, who hold for
significant periods, can be considered persistent entities. The side of the
market with weak hands is known as the short-term holders
(STHs).
Now, here is the chart shared by IntoTheBlock that shows the trend in the
combined holdings of the Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin LTHs over the past decade:
The value of the metric appears to have been on the decline in recent months |
Source: IntoTheBlock on X
The above graph shows that the Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin LTHs have been reducing their supply
this year. More specifically, the total balance of these HOLDers has decreased
by around 9.8% during this downtrend.
The LTHs have decided to break their dormancy whenever this metric registers a
decline. Generally, this happens because they want to participate in some
selling.
Something to note is that while selling is something that can instantly appear
on the indicator, the same isn t true for buying. LTH supply has a
1-year delay attached in terms of this, as coins can only become a part of the
cohort after they have been held for at least a year.
As mentioned earlier, LTHs tend to be committed hands, so they don t
tend to sell too often. That said, even these investors are forced into
selling when the profits of a major Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin bull run start rolling in.
Related Reading: Ethereum• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Ethereum Bullish Signal: Exchange Supply Locked At 2016
Levels
The analytics firm has highlighted in the chart how this selling looked during
the previous cycles. It would appear that the degree of the decline has been
less in this cycle so far than in the last bull markets.
Long-term holder balances have fallen by 9.8% this cycle, compared to
15% in 2021 and 26% in 2017, notes IntoTheBlock. Thus, it s
possible that the HODLer distribution could have more room to continue before
the Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin rally ends.
In some other news, as CryptoQuant community analyst Maartunn has pointed out
in an X post , the total Open Interest for the cryptocurrency• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта sector has shot
up to a new all-time high of $79.2 billion.
Looks like the value of the metric has observed a sharp surge recently |
Source: @JA_Maartun on X
The Open Interest refers to a measure of the number of
derivatives positions that users have opened on all centralized exchanges. A
spike in this indicator generally corresponds to higher volatility for the
market.
BTC Price
The Bitcoin• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin rally has gone cold as its price has been consolidating sideways
around the $95,800 mark recently.
The price of the coin has been stuck in sideways movement over the last few
weeks | Source: BTCUSDT on TradingView
Featured image from Dall-E, IntoTheBlock.com, chart from TradingView.com