Bitcoin Crashes To $98,000 As HODLer Selling Accelerates
On-chain data shows Bitcoin long-term holders have been ramping up their selling recently, a potential reason behind BTC’s fall under $100,000. Bitcoin Long-Term Holders Have Been Booking Profits In a new post on X, on-chain analytics firm Glassnode has discussed about the latest trend in the supply of the Bitcoin long-term holders (LTHs). These are referred to as the investors holding their coins for a period longer than 155 days, without selling or involving them in a transaction on the blockchain. Related Reading: Bitcoin Sentiment Most Fearful Since March: Is A Bottom Near?....
Related News
An analyst has pointed out how a sort of supply “air gap” exists for Solana below $144, with no major on-chain support levels until much lower. Solana URPD Reveals Supply Chasm Below $144 In a new post on X, analyst Ali Martinez has talked about how Solana support is looking from an on-chain lens. In on-chain analysis, the potential of any price level to act as support or resistance lies in the amount of coins that investors last purchased at it. Related Reading: Bitcoin Crashes To $98,000 As HODLer Selling Accelerates The reasoning behind this is that holders look at 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....
The electric car manufacturer Tesla is proving to be yet another Bitcoin (BTC) HODLer. Their Q3 2023 earnings report indicates that Elon Musk’s automotive company held onto its coins, not liquidating coins over the last few quarters. Tesla Holding On To Bitcoin Although Tesla has not bought any Bitcoin since February 2021, even selling 75% […]
US Senate candidate Cynthia Lummis is pro-bitcoin. She bought her first bitcoin during her time in Congress. Now she calls herself a hodler and sees the cryptocurrency as a viable alternative store of value to the US dollar. Bitcoin Advocate in the Senate Cynthia Lummis served Wyoming as a conservative Republican in the U.S. House of Representatives for eight years. She is now in the running for the U.S. Senate, with the endorsement of President Donald Trump. Lummis revealed during the third annual Wyoming Blockchain Stampede on Sunday that she is a bitcoin “hodler,” having....
Bitcoin has officially slipped into dangerous territory after losing the $90,000 level for the first time since early spring, triggering widespread fear across the market. The drop has intensified concerns that BTC may be transitioning into a full bear market, as momentum weakens and buyers struggle to absorb the aggressive waves of sell pressure. Related Reading: Ethereum Approaches Historical Accumulation Level – Just 8% Away From LTH Cost Basis According to top analyst Darkfost, one of the driving forces behind the latest downturn is persistent selling from major institutional players.....