Glassnode Suggests Bitcoin Long-Term Holder Conviction Not Lost Yet

Data from Glassnode suggests Bitcoin long-term holder capitulation hasn’t reached a scale that would imply a widespread loss of conviction yet.

Bitcoin Long-Term Holder Supply Has Declined By 61.5k BTC Since 6 Nov

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

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