Bitcoin

Periods similar to the ongoing SEC-induced FUD test the resilience of short-term holders &#8211; a cohort that is typically the first to flee as the price of crypto-asset tanks.
However, the latest data suggest that the movement of short-term Bitcoin holders depicted strong interest in staying in the market and gaining profitability.
<ul>
<li>A CryptoQuant analyst <a href="https://cryptoquant.com/insights/quicktake/6485faca2ec8802caac5c80f-BTC-Price-Growth-possibility-is-not-over?utm_source=twitter&amp;utm_medium=sns&amp;utm_campaign=Quicktake&amp;utm_content=Crazzyblockk" target="_blank" rel="noopener" data-wpel-link="external">stated</a> that despite the lackluster in Bitcoin&#8217;s price, as it continued to remain trapped within the $25k-$30k range, the possibility for growth in its trajectory is not over yet. The blog post explained,</li>
</ul>
<blockquote>&#8220;According to the short-term holder SOPR metric, when the number 1 of this data maintains for consecutive months, and the pocket value of these holders moves above this level is a sign of a strong interest in staying in the market and gaining profitability. 2015 and 2019 price cycles are good examples.&#8221;</blockquote>
<ul>
<li>As such, upon comparing the present cycle with 2019, the analyst noted that the profitability of long-term and short-term holders has not been high enough to trigger heavy selling pressure.</li>
<li>Such a trend essentially suggests that Bitcoin has the potential to grow with another wave of demand.</li>
<li>Further validating the short-term BTC holders&#8217; resilience is data from Glassnode, which revealed an uptick in hodling activity by this group since the beginning of July after a period of active selling the previous month.</li>
<li>Long-term Bitcoin holders were yet another cohort of market participants that have <a href="https://cryptopotato.com/bitcoin-investors-remain-resilient-despite-blow-on-coinbase-binance-data/" target="_blank" rel="noopener" data-wpel-link="internal">displayed</a> remarkable <a href="https://twitter.com/glassnode/status/1668200023811584003" target="_blank" rel="noopener" data-wpel-link="external">resilience</a> by focusing on holding their stash.</li>
</ul>
<blockquote class="twitter-tweet">
HODLing remains the primary market dynamic as steadfast HODLers remain resolute in the face of adversity, sending the <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank">#Bitcoin</a> Supply Last Active Bands to new ATHs.
<img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f534.png" alt="🔴" class="wp-smiley" style="height: 1em; max-height: 1em;" /> Supply Last Active 1+ Years: 68.4% 
<img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f7e0.png" alt="🟠" class="wp-smiley" style="height: 1em; max-height: 1em;" /> Supply Last Active 2+ Years: 55.5% 
<img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f7e2.png" alt="🟢" class="wp-smiley" style="height: 1em; max-height: 1em;" /> Supply Last Active 3+ Years: 40.1%… <a href="https://t.co/VR2pRIQjmV" data-wpel-link="external" target="_blank">pic.twitter.com/VR2pRIQjmV</a>
— glassnode (@glassnode) <a href="https://twitter.com/glassnode/status/1668200023811584003?ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank">June 12, 2023</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
<ul>
<li>It was found that only a very tiny fraction has transferred their tokens to centralized exchanges.</li>
</ul>
The post <a href="https://cryptopotato.com/bitcoin-btc-short-term-holders-not-willing-to-cash-out-amid-sec-fud-data/" rel="nofollow">Bitcoin (BTC) Short-Term Holders Not Willing to Cash Out Amid SEC FUD: Data</a> appeared first on <a href="https://cryptopotato.com/" rel="nofollow">CryptoPotato</a>.

Bitcoin (BTC) Short-Term Holders Not Willing to Cash Out Amid SEC FUD: Data

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