In short: Short-term Bitcoin holders show strong interest in remaining in the market despite SEC-induced uncertainty. The profitability of both short-term and long-term holders have not been high enough to trigger heavy selling pressure, suggesting that Bitcoin has the potential to grow with another wave of demand. Glassnode reports an uptick in hodling activity by short-term holders since the beginning of July. Only a small fraction has transferred their tokens to centralized exchanges.
Our quick analysis:
Despite the ongoing FUD caused by the SEC's regulation scrutiny, Bitcoin holders have displayed their resilience by holding on tight to their assets. Short-term holders, in particular, have shown strong interest in staying in the market and gaining profitability despite Bitcoin's low price.
According to CryptoQuant analysts, the movement of short-term Bitcoin holders indicates that Bitcoin's growth trajectory is not over yet. This is because the short-term holder SOPR metric suggests that these holders are not willing to cash out and are focused on gaining profitability. This is similar to what happened during the 2015 and 2019 price cycles, where the profitability of short-term and long-term holders did not trigger heavy selling pressure.
Additionally, Glassnode's data revealed that long-term Bitcoin holders were also resilient in holding on to their stash. They have been steadfast in the face of adversity, sending the Bitcoin Supply Last Active Bands to new ATHs. Only a small percentage of long-term holders have transferred their tokens to centralized exchanges.
This trend essentially suggests that despite the ongoing regulatory scrutiny, Bitcoin still has the potential to grow with another wave of demand. Holders remain resolute in their decision to hold on to their assets, indicating their confidence in Bitcoin's future.
In conclusion, despite the SEC-induced FUD, Bitcoin holders, both short-term and long-term, have shown remarkable resilience by holding on to their assets. This displays their strong confidence in Bitcoin's future growth potential.
Image provided by Unsplash
Disclaimer: Our articles are NOT financial advice, and we are not financial advisors. Your investments are your own responsibility. Please do your own research and seek advice from a licensed financial advisor beforehand if needed.
Our quick analysis:
Despite the ongoing FUD caused by the SEC's regulation scrutiny, Bitcoin holders have displayed their resilience by holding on tight to their assets. Short-term holders, in particular, have shown strong interest in staying in the market and gaining profitability despite Bitcoin's low price.
According to CryptoQuant analysts, the movement of short-term Bitcoin holders indicates that Bitcoin's growth trajectory is not over yet. This is because the short-term holder SOPR metric suggests that these holders are not willing to cash out and are focused on gaining profitability. This is similar to what happened during the 2015 and 2019 price cycles, where the profitability of short-term and long-term holders did not trigger heavy selling pressure.
Additionally, Glassnode's data revealed that long-term Bitcoin holders were also resilient in holding on to their stash. They have been steadfast in the face of adversity, sending the Bitcoin Supply Last Active Bands to new ATHs. Only a small percentage of long-term holders have transferred their tokens to centralized exchanges.
This trend essentially suggests that despite the ongoing regulatory scrutiny, Bitcoin still has the potential to grow with another wave of demand. Holders remain resolute in their decision to hold on to their assets, indicating their confidence in Bitcoin's future.
In conclusion, despite the SEC-induced FUD, Bitcoin holders, both short-term and long-term, have shown remarkable resilience by holding on to their assets. This displays their strong confidence in Bitcoin's future growth potential.
Image provided by Unsplash
Disclaimer: Our articles are NOT financial advice, and we are not financial advisors. Your investments are your own responsibility. Please do your own research and seek advice from a licensed financial advisor beforehand if needed.
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