This Bitcoin Level Could Be To Watch In The Short Term, Glassnode Says
The on-chain analytics firm Glassnode has explained how the Bitcoin investor Cost Basis Distribution could highlight this level as an important one. A Notable Amount Of Bitcoin Has Cost Basis At $106,600 In a new post on X, Glassnode has talked about the Bitcoin Cost Basis Distribution for the levels nearby to the current spot price. The “Cost Basis Distribution” (CBD) here refers to an on-chain indicator that tells us about how much of the asset’s supply was purchased at what price levels. Related Reading: Bitcoin At $103,000 Relatively Cool Per This Indicator, Quant....
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Data from Glassnode shows the Bitcoin profit in supply held by short-term holders has been going down for 431 days now. Bitcoin Short-Term Holder Supply In Profit Has Been In Compression Phase Recently According to the latest weekly report from Glassnode, the STH supply in profit usually goes through three phases each cycle. The “supply […]
Although long-term coin selling saw a marked increase last week, HODLing is still the preferred strategy as more of the short-term supply is becoming long-term supply. Over the past week, long-term holders of Bitcoin increased their spending to a level that suggests de-risking from the market, but hodling remains the predominant investing strategy.Uncertain macroeconomic headwinds are likely to have precipitated the increase in the sell-offs last week by long-term holders and shaken some short-term holders out of their positions according to data from blockchain analytics firm Glassnode.....
On-chain data shows the Realized Price of the Bitcoin short-term holders lies at $86,800 right now, making the level one to watch. Bitcoin Is Still At A Notable Gap From Short-Term Holder Cost Basis In a new post on X, the on-chain analytics firm Glassnode has discussed the trend in the profit-loss status of the Bitcoin short-term holders. The indicator of relevance here is the “Market Value to Realized Value (MVRV) Ratio,” which keeps track of the ratio between BTC’s Market Cap and its Realized Cap. Related Reading: Bitcoin Sentiment Now Worst Since Mid-October: Reversal....
Long-term holders are continuing to accumulate BTC while short-term speculators are selling. According to research by on-chain analytics provider, Glassnode, 95% of the Bitcoin changing hands last was last moved less than three months ago on the blockchain.Glassnode’s March 15 The Week On-Chain report found that just 5% of spent outputs are more than 90 days old, indicating the vast majority of BTC moving on-chain are “young coins.” Other data from Glassnode has found that addresses that have been hodling BTC for at least three years have significantly increased their holdings over the....
On-chain data shows that Bitcoin short-term holders have been selling at a notable loss recently, something that has led to bottoms in the past. Bitcoin Short-Term Holders See SOPR Plunge Under 1.0 In its latest weekly report, the on-chain analytics firm Glassnode has discussed about how the Bitcoin short-term holders have reacted to the recent […]