Bitcoin (BTC) short-term holders unwilling to cash out amid SEC FUD: Data

A period similar to the ongoing SEC-induced FUD tests the resilience of short-term holders – a cohort that is typically the first to flee as crypto-asset prices tank.

However, the latest data shows that the movement of short-term bitcoin holders shows a strong interest in staying in the market and taking profits.

• a cryptoquant analyst where did it go That despite the decrease in bitcoin price as it remains trapped within the $25k-$30k range, its upward trajectory is far from over. blog post explained

“When short-term holders remain #1 on this data for consecutive months, according to the SOPR metric, and the pocket value of these holders moves above this level, it indicates a strong interest in staying in the market and achieving profitability.” The signal is there. The 2015 and 2019 price cycles are good examples of this.”

• As such, comparing the current cycle with 2019, the analyst noted that the profitability of long and short holders has not been sufficient to trigger heavy selling pressure.
• Such a trend essentially suggests that bitcoin has the potential to grow with another wave of demand.
• Also validating the resilience of short-term BTC holders is data from Glassnode, which revealed an increase in hoarding activity by this group since early July following a period of active selling last month.
• Long-term bitcoin holders were yet another group of market participants that performed remarkably well. resilience By focusing on their stash.

HODLing remains primary market dynamic as determined HODLers persevere in the face of adversity, sending #bitcoin Supply the last active band to the new ATH.

🔴 Supply Last Active 1+ Years: 68.4%
🟠 Supply last active 2+ years: 55.5%
🟢 Supply last active 3+ years: 40.1%… pic.twitter.com/VR2pRIQjmV

— Glassnode (@glassnode) June 12, 2023

• It was found that only a very small fraction have moved their tokens to centralized exchanges.