Bitcoin miners are hodling while long-term investors take profits
On-chain data shows that while miners are selling less BTC, old investors are realizing profits. On-chain analytics provider, Glassnode, has published data revealing that Bitcoin miners are accumulating while long-term investors are taking profits.Despite January seeing heavy selling from miners, Glassnode’s report shows that miner outflows have dried up during February so far.Chart - Glassnode.comThe report asserts that miners and longer-term investors are the two principal sellers of Bitcoin during bull markets. According to Glassnode, declining miner outflows can be inferred as bullish,....
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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....
Glassnode data reveals that investors with a long-term risk outlook have started accumulating Bitcoin during its recent downtrend. Bitcoin (BTC) price remained relatively flat over the weekend, inching closer to $34,000 on July 11. Nevertheless, BTC/USD has tumbled by almost 50% from its all-time high, near $65,000 in mid-April. But the massive downside move has not deterred investors from betting on the digital asset's long-term bullish outlook.According to one of the Glassnode metrics, dubbed as Liveliness, the Bitcoin market has been noticing a shift in long-term investors' "macro....
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.....
Bitcoin has declined below $21k during the past day as on-chain data shows signs of long-term holders harvesting profits. Bitcoin Long-Term Holder SOPR Has Spiked Up In Recent Days As pointed out by an analyst in a CryptoQuant post, profit-taking from long-term holders has previously been followed by local tops in the price of the crypto. The relevant indicator here is the “Spent Output Profit Ratio,” which tells us whether the average Bitcoin investor is selling at a profit or at a loss right now. When the value of this metric is greater than 1, it means the holders as a whole....
The decline in profitability for long-term holders reached a level last seen during the peak of the bear market in 2018. However, the market bottomed and bounced back during the previous cycle. Bitcoin’s (BTC) long-term profitability has declined to levels last seen during the previous bear market in December 2018. According to data shared by crypto analytic firm Glassnode, BTC holders are selling their tokens at an average loss of 42%.Bitcoin long term holders. Source: GlassnodeThe Glassnode data indicate that long-term holders of the top cryptocurrency selling their tokens have a cost....