‘Old hands selling out’ metric shows Bitcoin price at risk of HODLers dumping
On-chain data shows dormant addresses are selling BTC, leading some analysts to make bearish calls on Bitcoin price. Old hands are selling their Bitcoin (BTC) holdings, according to glassnode’s Coin Dormancy metric. As shown below, dormant addresses selling BTC marked previous tops in BTC.Coin Dormancy of Bitcoin. Source: glassnodeOn-chain analyst Willy Woo said old hands reliably sold the top until the most recent price cycle. He wrote:“Dormancy is a measure of ‘old hands selling out.’ It's interesting to see old hands reliably sold tops until this present cycle. They sold the #bitcoin....
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Data shows the Bitcoin supply older than 1 year has shown accelerating movement recently, suggesting even the crypto’s stronger hands are feeling the fear in the market. Bitcoin Diamond Hands Are Starting To Budge In Current Market According to the latest weekly report from Glassnode, BTC’s older supply has been observing selling in recent days. The relevant indicator here is the “revived supply last active 1+ years,” which measures how many coins that have been sitting still since at least one year ago are seeing movement per day. When the value of this metric....
It's "younger" BTC bought at the Summer $30,000 lows that's moving in Q4, data shows. Seasoned Bitcoin (BTC) hodlers have hardly spent any coins despite $69,000 all-time highs this year, data shows.According to the Coin Days Destroyed (CDD) metric from on-chain analytics firm Glassnode, the proportion of coins being spent by old hands remains near record lows.Strong hands knuckle down throughout 2021In the latest sign of the conviction of those who invest in and hold Bitcoin over multiple years, CDD remains extremely calm.The indicator refers to how long each BTC has been dormant each time....
On-chain data shows the Bitcoin exchange whale ratio has started to sharply rise, a sign that these humongous holders may be beginning to dump. Whales Are Behind Almost 90% Of Bitcoin Exchange Inflows Right Now As pointed out by an analyst in a CryptoQuant post, whales may be ramping up dumping, a sign that could be bearish for the price of BTC. The “exchange whale ratio” is an indicator that measures the ratio between the sum of the top ten Bitcoin transactions to exchanges and the total exchange inflows. Since the 10 biggest transactions to exchanges usually belong to the....
On-chain data shows Bitcoin miners have been dumping during the past couple of weeks, but the price of the crypto has held up so far. Bitcoin Miner Reserve Has Lost 10k BTC In Last Two Weeks As Miners Sell As pointed out by an analyst in a CryptoQuant post, while miners have been selling in recent days, the value of BTC has refused to budge. The “miner reserve” is an indicator that measures the total amount of Bitcoin currently present in the wallets of all miners. When the value of this metric goes down, it means coins are exiting miner wallets right now. As miners usually....
Data shows the Bitcoin “reserve risk” indicator has recently plunged down and is now reaching all-time lows only seen back in 2015 bear and the March 2020 COVID crash. Bitcoin Reserve Risk Suggests HODLing Relative To Price Is Strong According to the latest weekly report from Glassnode, BTC investors have been holding strong onto their coins despite the large decline in the crypto’s price recently. Before looking at what the “reserve risk” indicator does, it’s best to get an understanding of a couple concepts first. A “coin day” is....