Accumulate

HODL

Bitcoin

Show

when

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-holders-show-reluctance-to-sell-despite-record-highs/" data-wpel-link="internal">Bitcoin Holders Show Reluctance to Sell Despite Record Highs</a> 
<a href="https://en.coin-turk.com/analyst-predicts-significant-gains-for-select-altcoins/" data-wpel-link="internal">Crypto</a> data platform Glassnode‘s tracked data reveals that the average on-chain transfers in <a href="https://en.coin-turk.com/bitcoin-btc-surpasses-critical-resistance-level/" data-wpel-link="internal">Bitcoin</a>‘s (<a href="https://coin-turk.com/2021-cokusunu-basariyla-tahmin-eden-analistten-bitcoine-200-000-dolar-hedefi" data-wpel-link="internal">BTC</a>) <a href="https://coin-turk.com/buyuk-blockchain-sirketinin-turkiye-ve-istanbul-cikartmasi" data-wpel-link="internal">Blockchain</a> in terms of US dollar value remain significantly below the peak seen in 2021. According to analysts, this trend could be interpreted as a sign that investors prefer to hold their <a href="https://en.coin-turk.com/bitcoins-price-movement-will-it-drop-to-20000-or-soar-to-new-heights/" data-wpel-link="internal">BTC</a> without selling in anticipation of higher prices, indicating a strong HODL trend in the market. 
<h2 style="text-align: justify" id="strong-investors-avoid-selling-btc-strong">Investors Avoid Selling BTC</h2> 
Bitcoin has reached new record levels by surging above 70 thousand dollars, hitting an all-time high (ATH) of 73,750 dollars, yet the real economic activity on the largest cryptocurrency’s Blockchain is sluggish, indicating that investor expectations are quite high. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-332804" src="https://coin-turk.com/wp-content/uploads/2024/03/Bitcoin-Transfer-Hacmi.png" alt="" width="1622" height="912"> 
According to analysts at Blockware Solutions, the current disparity between Bitcoin’s price rally and on-chain transfer volume shows a prevailing reluctance to sell among investors. Recent data indicates that the average on-chain transfer volume in US dollars is significantly lower than the levels observed during the 2021 bull market peak. The data shows that the 7-day and 14-day average transfer volumes are currently below 200 thousand dollars, compared to volumes over 1 million dollars seen during the previous bull market. 
Analysts relate the current uptrend in Bitcoin’s price primarily to Wall Street’s interest in spot Bitcoin ETFs listed on Nasdaq, concentration of spot volume in ETFs, and relatively low on-chain volume. Nevertheless, various data reveal that investors who endured the pain of the 2022 bear market are holding onto their BTCs without selling, in anticipation of further price increases. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-332805" src="https://coin-turk.com/wp-content/uploads/2024/03/Bitcoin-Arzi.jpeg" alt="" width="811" height="509"> 
Analysts at Blockware Solutions predict that when there is a significant movement in Bitcoin’s price, the on-chain volume will increase and old BTCs will be moved to exchanges for sale. Until then, the low on-chain volume is interpreted as a sign of a lack of supply-side liquidity and reinforces the narrative that investors are reluctant to sell. 
<h2 style="text-align: justify" id="strong-long-term-investors-continue-to-accumulate-btc-strong">Long-Term Investors Continue to Accumulate BTC</h2> 
In particular, the percentage of Bitcoin supply that was last active 3 to 4 years ago continues to increase. This trend indicates a strong belief among long-term investors. The main driving force behind this trend is many analysts’ forecasts that the price of the largest cryptocurrency will rise to six figures in the coming months and exceed 150 thousand dollars in the long term. 
According to CoinMarketCap data, Bitcoin is trading at 67,260 dollars with a market value of 1.32 trillion dollars, marking a 3.57% increase in the last 24 hours. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-holders-show-reluctance-to-sell-despite-record-highs/" data-wpel-link="internal">Bitcoin Holders Show Reluctance to Sell Despite Record Highs</a></h5>

Bitcoin Holders Show Reluctance to Sell Despite Record Highs

Table of Contents

COINTURK NEWS

Other articles published on Mar 25, 2024

BlockDAG's $8.3 Million Presale Victory Outshines Quant And PUSHD, Paving The Way For Blockchain ...

Bitcoin To $50,000 Or $80,000? Crypto Expert Predicts Where Price Is Headed Next

Binance Faces Tax Evasion Charges in Nigeria, Executives Detained

The Ultimate Showdown: SLERF vs. Shiba Inu vs. BEFE Coin – Which Deserves Your Attention?

Ripple Developer Makes Call for Canary Network Amid XRPL Glitch

Strategic Alliance Announcement: BinStarter's Partnership with BRC20X Elevates the Bitcoin Blockc...

Join our free newsletter for daily crypto updates!