Not-So-Diamond-Hands: Bitcoin Long-Term Holders Have Shed 150k BTC Since LUNA Crash

Data shows the total supply held by the Bitcoin long-term holders has decreased by 150k BTC since the LUNA crash.

Bitcoin Long-Term Holders Have Dumped A Noticeable Amount In The Last Few Months

According to the latest weekly report from Glassnode, the BTC LTHs have observed a sustained decrease of 150k BTC since the crash in May.

The “long-term holder” (or LTH in brief) group is the Bitcoin cohort that includes all those investors who have been holding onto their coins since at least 155 days ago, without selling or moving them. The holders who sell earlier than this threshold are called the short-term holders (STHs).

LTHs are generally the most resolute investors in the market and thus large selling from them doesn’t happen too often. Generally, the more amount of time a holder has held their coins for (that is, the more aged the LTH has become), the less likelier they become to sell at any point.

Here is a chart that shows the trend in the total Bitcoin supply held by these LTHs during the past year:

The value of the metric seems to have been trending downwards in recent months Source: BTCUSD on TradingViewFeatured image from Dmitry Demidko on Unsplash.com, charts from TradingView.com, Glassnode.com

Tags: bitcoinBitcoin Diamond HandsBitcoin long-term holdersBitcoin LTHbtcbtcusdLuna Crash

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