Bitcoin

Grayscale Bitcoin Trust

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/bitcoin-surges-above-50000-long-term-holders-start-to-sell" rel="noopener noreferrer nofollow">Bitcoin Surges Above $50,000: Long-Term Holders Start to Sell</a><br></p>
<p style="text-align: justify">As <a href="https://en.bitcoinhaber.net/crypto-excitement-blackrocks-bitcoin-investment-and-etf-prospects" rel="noopener noreferrer nofollow">Bitcoin</a> soars past the $50,000 mark, its highest value in recent years, long-standing investors are beginning to reap the rewards of their patience and confidence in the digital currency. Despite being 28% below its peak, Glassnode’s insights reveal a swift decline in the quantity of Bitcoin held at a loss, now standing at a mere 13%.</p>
<h2 id="investor-strategy-shifts-with-rising-bitcoin-prices">Investor Strategy Shifts with Rising Bitcoin Prices</h2>
<p style="text-align: justify">New analysis suggests a strategic shift among veteran Bitcoin investors, particularly within the Grayscale Bitcoin Trust (GBTC), where around 148,000 BTC have been traded since last November. The actions hint at profit-taking and adjustments in investment portfolios.</p>
<p style="text-align: justify">The decreasing amount of Bitcoin held at previously higher levels as market values approach the 2021 high suggests many investors are seeing profits. This could indicate a phase where these long-term holders might begin to sell off part of their holdings.</p>
<h2 id="gbtc-s-influence-on-bitcoin-s-long-term-investment-patterns">GBTC’s Influence on Bitcoin’s Long-Term Investment Patterns</h2>
<p style="text-align: justify">Before the introduction of spot Bitcoin Exchange-Traded Funds (ETFs), speculative trading had surged, prompting numerous steadfast Bitcoin holders to engage in trading. The supply balance of Bitcoin amongst long-term investors has witnessed a drop of about 299.5 thousand BTC since November, bringing the total down to 14.996 million BTC.</p>
<p style="text-align: justify">The GBTC data is pivotal, having received over 661,000 BTC in 2021 and characterized as ‘long-term holder’ supply. However, with an outflow of approximately 151.5 thousand BTC from GBTC, the remaining 148,000 BTC suggests a spread of holdings among these investors as the value nears its historic high.</p>
<p style="text-align: justify">Despite a recent price correction due to profit-taking, investor morale is buoyant. Michael Saylor, MicroStrategy’s co-founder, attributes the price uplift to the launch of spot Bitcoin ETFs, which have seen a demand surpass the available supply, with a ratio of ten to one compared to miner output. Bitcoin’s price has increased by 1.86% in the past day, currently trading around $51,000, after a brief dip following the release of US inflation data.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/bitcoin-surges-above-50000-long-term-holders-start-to-sell" rel="noopener noreferrer nofollow">Bitcoin Surges Above $50,000: Long-Term Holders Start to Sell</a></h5>

Bitcoin Surges Above $50,000: Long-Term Holders Start to Sell

目錄

BH NEWS

在 2024年2月14日發表的其他文章

Bitcoin (BTC) Price Holds Firm Amid Global Market Slump, What’s Next?

Polygon (MATIC) Sees Healthy Double Digit Profits While Avalanche (AVAX) Investors Buy Up Web3 Ke...

Bitcoin ETF Inflows Surge as Investors Show Interest

Analyst Predicts Potential Surge for VeChain (VET) Price

Polygon Moves 9 Mln MATIC To Binance, Price To Dip Below $0.85?

Missouri enshrines right to trade Bitcoin into law

訂閱免費電子報，每天收取加密貨幣最新動態！