Bitcoin holders show resilience amidst 65% annual price growth By Investing.com
[ad_1]
‘s impressive annual gain of over 65% is fueling a bullish sentiment in the crypto market, as reported by Bitfinex Alpha today. Long-term holders (LTHs) of the digital asset are exhibiting steadfastness, as indicated by the diminishing Coin Days Destroyed (CDD) metric, which measures the Bitcoin network’s economic activity.
The study also highlighted low sell-side liquidity and a decrease in selling activity among large Bitcoin holders, those with 1,000-10,000 BTC in their wallets. This suggests these investors are either expecting more price growth or are comfortable with holding their Bitcoin for longer durations. The Spent Output Value Bands (SOVB) metric for these wallets is declining, indicating reduced activity and potentially a bullish market sentiment.
In contrast, smaller Bitcoin holders, those with 10-100 BTC in their wallets, are contributing to selling pressure. However, this pressure has had a limited impact recently and aligns with the early stages of a bullish market. The SOVB metric for these wallets shows an increase, indicating a rise in selling activity.
Binance’s recent special offer of free $100 and reduced fees could stimulate more trading activity in the market. Despite these offers and the increased selling pressure from smaller holders, the Bitcoin market remains strong and resilient, demonstrating faith in its value proposition and future potential.
The overall market patterns align with the initial stages of bullish markets, suggesting that large Bitcoin holders may expect more price growth or are prepared to extend their holding duration. This aligns with the early stages of a bullish market and reflects optimism about Bitcoin’s future potential.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
[ad_2]
Source link
‘s impressive annual gain of over 65% is fueling a bullish sentiment in the crypto market, as reported by Bitfinex Alpha today. Long-term holders (LTHs) of the digital asset are exhibiting steadfastness, as indicated by the diminishing Coin Days Destroyed (CDD) metric, which measures the Bitcoin network’s economic activity.
The study also highlighted low sell-side liquidity and a decrease in selling activity among large Bitcoin holders, those with 1,000-10,000 BTC in their wallets. This suggests these investors are either expecting more price growth or are comfortable with holding their Bitcoin for longer durations. The Spent Output Value Bands (SOVB) metric for these wallets is declining, indicating reduced activity and potentially a bullish market sentiment.
In contrast, smaller Bitcoin holders, those with 10-100 BTC in their wallets, are contributing to selling pressure. However, this pressure has had a limited impact recently and aligns with the early stages of a bullish market. The SOVB metric for these wallets shows an increase, indicating a rise in selling activity.
Binance’s recent special offer of free $100 and reduced fees could stimulate more trading activity in the market. Despite these offers and the increased selling pressure from smaller holders, the Bitcoin market remains strong and resilient, demonstrating faith in its value proposition and future potential.
The overall market patterns align with the initial stages of bullish markets, suggesting that large Bitcoin holders may expect more price growth or are prepared to extend their holding duration. This aligns with the early stages of a bullish market and reflects optimism about Bitcoin’s future potential.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
About The Author
