New Bitcoin bull market hodlers are refusing to sell at $40K, data suggests
Those who bought Bitcoin this bull market are in no hurry to sell, says Glassnode, as small-time investor numbers also grow. Bitcoin (BTC) investors continue to hodl BTC at $40,000, even if they bought it at lower levels earlier in 2021.In the latest edition of its newsletter, The Week On-Chain, on June 14, on-chain monitoring resource Glassnode revealed that buyers from the first months of this year’s bull market are refusing to cash out."Very young" supply in declineBitcoin has been marked by low volume in recent weeks as price action remained rangebound between $30,000 and $41,000.The....
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Bitcoin supply that has not moved for over two years has hit a 3-month low, indicating conviction from long-time HODLers. Long-time Bitcoin (BTC) HODLers are refraining from selling their holdings, on-chain data from Glassnode shows. According to Glassnode’s "BTC Percent Supply Last Active 2+ Years" indicator, Bitcoin that was last moved well over two years ago reached a three-month low to 45.364%.BTC Percent Supply Last Active 2+ Years. Source: GlassnodeThis trend indicates that Bitcoin HODLers who bought around the top of the last bull cycle in 2018 and before are showing deeper....
Analysis of sellers' profits this week increasingly points to an imminent return to upside for BTC/USD. Bitcoin (BTC) hodlers hoping for a return to the bull run may not have long to wait, as a popular indicator gives cause for optimism.As compiled by on-chain monitoring resource Glassnode, data from the Bitcoin spent output profit ratio (SOPR) suggests that the current BTC price correction is almost complete.BTC price correction should end "soon"The SOPR tracks the percentage of coins being moved that are in profit — in other words, whether hodlers are selling at a profit or loss.When the....
It may be a tempting sell at 3x gains but last November's buyers remain determined to "hodl." Bitcoin (BTC) investors who bought at 2017 all-time highs and above have still not sold, data suggests.According to the HODL Waves metric, coins which last moved in the past six to twelve months now make up the biggest portion of the BTC supply.BTC buyers hold their nerveDespite strong gains and equally strong corrections in 2021, those who entered the market or added to their positions in or after November 2020 are refusing to sell.HODL Waves, which track the age distribution of unspent....
Investors who began their Bitcoin journey three to five years ago have stronger hands than you might think. Bitcoin (BTC) may be worth almost three times more than at the height of its 2017 bull run, but a lot of hodlers from that time refuse to sell.The latest data from Bitcoin financial services firm Unchained Capital shows that 2017 buyers control an increasingly large amount of the BTC supply.2017 hodlers are not "weak hands"According to Unchained’s HODL Waves chart, which ranks the supply according to when coins last moved, those who bought three to five years ago are sitting on their....
Bitcoin HODLer volume suggests a prolonged correction is not likely, but that could change. Bitcoin (BTC) HODLer volume has marked previous tops and the start of bull cycles. As the dominant cryptocurrency heads towards $30,000, HODLer activity could be a useful tool to potentially gauge BTC’s next peak.Since October, as Cointelegraph reported, the HODLing activity of Bitcoin has continuously increased. Fewer HODLers have been moving their holdings, which indicates an overall bullish market sentiment.Bitcoin HODLer volume. Source: WhalemapWhy HODLer activity is important to assess Bitcoin....