Fed Cut Triggers 10K Bitcoin Sell-Off – Yet Zero Panic From Long-Term Holders
Bitcoin (BTC) and the broader crypto market slipped into the red following the Federal Reserve’s recent 25bps interest rate cut, igniting a familiar debate across trading desks: is this simply a “sell the news” shakeout, or the early stages of a more sustained downturn — a possible prelude to another crypto winter? Related Reading: Old […]
Related News
Weak hands are panic selling, but long-term BTC holders have seen it all before. While new entrants to Bitcoin markets have been panic selling at a loss, the recent market slide has not vexed the old hands.Heavy selling in response to hints from Elon Musk that Tesla may soon sell its BTC stash saw Bitcoin prices tumble to their lowest levels in 20 weeks as the markets found support near $42,000 on Monday, May 17.According to on-chain analytics provider, Glassnode, the crash predominantly saw newer traders exiting from their positions at a loss while long-term hodlers stood their....
A recent Glassnode report says some long-term holders (LTHs) of bitcoin offloaded part of their holdings and cashed out their profits during a bull-run. Still, the report explains that the sell-off, which has been noticeable since late November, is not necessarily a sign of an approaching bear market. Instead, as the data shows, BTC is poised for another rally. Since Nov. 26, when the price of BTC dropped by more than 17% in 24 hours, the digital asset has recovered and currently trades above $19,000. Some analysts believe that it is only a matter of time before the leading crypto....
Data shows the Bitcoin long-term holders have been selling their coins at a loss for a period of four months now. Bitcoin Long-Term Holder SOPR Has Remained Below 1 Recently As per the latest weekly report from Glassnode, the BTC long-term holders have continued to sell at a loss in recent weeks. The relevant indicator […]
On-chain data shows the Bitcoin long-term holders have participated in a major selloff recently, a sign that may not be ideal for BTC’s price. Bitcoin Long-Term Holders Have Been Distributing Recently As explained by on-chain analyst Checkmate in a new post on X, the Bitcoin long-term holders have just shown their heaviest profit-taking event of […]
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.....