Data from Glassnode suggests Bitcoin long-term holder capitulation hasn’t reached a scale that would imply a widespread loss of conviction yet.
According to the latest weekly report from Glassnode, the BTC long-term holder supply has observed a notable decrease recently.
The “long-term holders” (LTHs) make up a cohort that includes all Bitcoin investors who have been holding onto their coins since at least 155 days ago.
Holders belonging to this group are statistically the least likely to sell at any point, so movements from them can have noticeable implications for the market.
The “long-term holder supply” is an indicator that measures the total number of coins currently stored in the wallets of these resolute investors.
Changes in the value of this metric can tell us whether the LTHs are accumulating or selling at the moment.
Now, here is a chart that shows the trend in the Bitcoin LTH supply over the last few years:
Looks like the value of the metric has decreased in the last few days Source: BTCUSD on TradingViewFeatured image from Daniel Dan on Unsplash.com, charts from TradingView.com, Glassnode.com
Tags: bitcoinBitcoin ConvictionBitcoin Diamond HandsBitcoin Long-Term Holder SupplyBitcoin long-term holdersBitcoin LTHsbtcbtcusdglassnode
NewsBTCRead More
The miner rented 1 petahash per second through on-demand cloud mining and got lucky on…
Ether, solana, and cardano all outpaced bitcoin on the day, suggesting a rotation into higher-beta…
Bitcoin continues to struggle to push decisively above the $66,000 level as persistent selling pressure…
Bitcoin price started a major increase above $68,000. BTC is now struggling to clear the…
According to a new forecast from an Elliott Wave analyst, the Bitcoin price could be…
In a sign of the growing convergence between traditional finance and digital assets, Emirates NBD…