ApeWatcher News
  • Home
  • Advertise
  • Headlines
  • Crypto
    • News
    • Bitcoin
    • Ethereum
    • Altcoin
    • View All
  • DeFi
  • NFT
  • Metaverse
  • Guides
  • Rates
  • Videos
  • Listing Platform
  • BSC
  • ETH
  • Listing Platform
  • BSC
  • ETH
What's Hot

US Treasury sanctions Ethereum wallet tied to cartel over ‘illicit fentanyl trafficking’

September 26, 2023

Why Binance and Banking Giant MUFG Want to Issue Stablecoins in Japan

September 26, 2023

Can the Bitcoin Price Pump to $30,000 This Week? Traders Eye New Crypto Presale Bitcoin Minetrix With Stake to Mine Utility Instead

September 26, 2023
Twitter Telegram
  • Listing Platform
  • Home
  • BSC
  • ETH
Advertise
Twitter Telegram
ApeWatcher News
  • Headlines
  • Crypto
    1. News
    2. Bitcoin
    3. Ethereum
    4. Altcoin
    5. View All

    US Treasury sanctions Ethereum wallet tied to cartel over ‘illicit fentanyl trafficking’

    September 26, 2023

    Why Binance and Banking Giant MUFG Want to Issue Stablecoins in Japan

    September 26, 2023

    Can the Bitcoin Price Pump to $30,000 This Week? Traders Eye New Crypto Presale Bitcoin Minetrix With Stake to Mine Utility Instead

    September 26, 2023

    Kraken secures money license registrations in Spain and Ireland

    September 26, 2023

    Bitcoin analysts flag key BTC price points as bulls cling to $26K

    September 26, 2023

    JPMorgan’s subsidiary Chase UK to restrict crypto transactions

    September 26, 2023

    Bitcoin exchange volume tracks 5-year lows as Fed inspires BTC hodling

    September 26, 2023

    Bitcoin gains legal recognition as digital currency in Shanghai China

    September 26, 2023

    Tim Draper, Hall of Flame

    September 26, 2023

    MetaMask ‘glitch’ caused opBNB recommended fees to be too high: Report

    September 25, 2023

    Vitalik wallet sends 400 ETH worth $600K to Coinbase

    September 25, 2023

    Vitalik Buterin Warns CBDCs Moving in Wrong Direction, Calls Them ‘Front Ends’ for the Banking System: Report

    September 24, 2023

    Optimism OP token slips 10% in week ahead of $30M token unlock

    September 26, 2023

    Chainlink downplays worries after users notice quiet change to multisig

    September 25, 2023

    Crypto traders shift focus to these 4 altcoins as Bitcoin price flatlines

    September 24, 2023

    Over $440,000,000,000 in Bitcoin and Other Cryptos Could Be Wiped Out Before Market Bottoms Out: Nicholas Merten

    September 23, 2023

    US Treasury sanctions Ethereum wallet tied to cartel over ‘illicit fentanyl trafficking’

    September 26, 2023

    Why Binance and Banking Giant MUFG Want to Issue Stablecoins in Japan

    September 26, 2023

    Can the Bitcoin Price Pump to $30,000 This Week? Traders Eye New Crypto Presale Bitcoin Minetrix With Stake to Mine Utility Instead

    September 26, 2023

    Kraken secures money license registrations in Spain and Ireland

    September 26, 2023
  • DeFi
  • NFT
  • Metaverse
  • Guides
  • Rates
  • Videos

    BitBoy Crypto: Confronting The Man Accused of Stealing EVERYTHING | TJ Shedd

    September 25, 2023

    Bitcoin Has A New Super Whale! (2024 Bringing Explosive Gains)

    September 25, 2023

    Crypto News: Ethereum, Tether FUD, Coinbase, BASE & MORE!!

    September 25, 2023

    Bitcoin + AI = PRICE EXPLOSION! 2024 is VERY BULLISH! (Here is why)

    September 24, 2023

    How To Earn Free Cardano!

    September 24, 2023
  • bitcoinBitcoin(BTC)
    $0.00-0.71% 24H
    BITCOIN
    24H : -0.71%
    Volume : $0.00
    Marketcap : $0.00
  • ethereumEthereum(ETH)
    $0.00-0.62% 24H
    ETHEREUM
    24H : -0.62%
    Volume : $0.00
    Marketcap : $0.00
  • tetherTether(USDT)
    $0.00-0.04% 24H
    TETHER
    24H : -0.04%
    Volume : $0.00
    Marketcap : $0.00
  • binancecoinBNB(BNB)
    $0.000.700% 24H
    BNB
    24H : 0.700%
    Volume : $0.00
    Marketcap : $0.00
  • rippleXRP(XRP)
    $0.000.00% 24H
    XRP
    24H : 0.00%
    Volume : $0.00
    Marketcap : $0.00
  • usd-coinUSDC(USDC)
    $0.00-0.04% 24H
    USDC
    24H : -0.04%
    Volume : $0.00
    Marketcap : $0.00
  • staked-etherLido Staked Ether(STETH)
    $0.00-0.77% 24H
    LIDO STAKED ETHER
    24H : -0.77%
    Volume : $0.00
    Marketcap : $0.00
  • cardanoCardano(ADA)
    $0.00-0.43% 24H
    CARDANO
    24H : -0.43%
    Volume : $0.00
    Marketcap : $0.00
  • dogecoinDogecoin(DOGE)
    $0.00-1.04% 24H
    DOGECOIN
    24H : -1.04%
    Volume : $0.00
    Marketcap : $0.00
  • solanaSolana(SOL)
    $0.00-2.48% 24H
    SOLANA
    24H : -2.48%
    Volume : $0.00
    Marketcap : $0.00
  • bitcoinBitcoin(BTC)
    $0.00-0.71% 24H
    BITCOIN
    24H : -0.71%
    Volume : $0.00
    Marketcap : $0.00
  • ethereumEthereum(ETH)
    $0.00-0.62% 24H
    ETHEREUM
    24H : -0.62%
    Volume : $0.00
    Marketcap : $0.00
  • tetherTether(USDT)
    $0.00-0.04% 24H
    TETHER
    24H : -0.04%
    Volume : $0.00
    Marketcap : $0.00
  • binancecoinBNB(BNB)
    $0.000.700% 24H
    BNB
    24H : 0.700%
    Volume : $0.00
    Marketcap : $0.00
  • rippleXRP(XRP)
    $0.000.00% 24H
    XRP
    24H : 0.00%
    Volume : $0.00
    Marketcap : $0.00
  • usd-coinUSDC(USDC)
    $0.00-0.04% 24H
    USDC
    24H : -0.04%
    Volume : $0.00
    Marketcap : $0.00
  • staked-etherLido Staked Ether(STETH)
    $0.00-0.77% 24H
    LIDO STAKED ETHER
    24H : -0.77%
    Volume : $0.00
    Marketcap : $0.00
  • cardanoCardano(ADA)
    $0.00-0.43% 24H
    CARDANO
    24H : -0.43%
    Volume : $0.00
    Marketcap : $0.00
  • dogecoinDogecoin(DOGE)
    $0.00-1.04% 24H
    DOGECOIN
    24H : -1.04%
    Volume : $0.00
    Marketcap : $0.00
  • solanaSolana(SOL)
    $0.00-2.48% 24H
    SOLANA
    24H : -2.48%
    Volume : $0.00
    Marketcap : $0.00
ApeWatcher News
Home » Bitcoin hodling activity resembles previous market bottoms: Glassnode
Bitcoin

Bitcoin hodling activity resembles previous market bottoms: Glassnode

Coin TelegraphBy Coin TelegraphJuly 18, 20223 ViewsNo Comments
Share
Facebook Twitter LinkedIn Pinterest Email

The majority of Bitcoin has been “hodled” for at least three months in behavior bearing a striking resemblance to previous Bitcoin market bottoms, says blockchain analytics firm Glassnode.

In a July 16 tweet, Glassnode noted that more than 80% of the total U.S. dollar (USD)-denominated wealth invested in Bitcoin has not been touched for at least three months.

This signifies that the “majority of BTC coin supply is dormant” and that hodlers are “increasingly unwilling to spend at lower prices,” said the firm.

Over 80% of the total USD denominated wealth invested in #Bitcoin has been HODLed for at least 3-months.

This signifies that the majority of the $BTC coin supply is dormant, and HODLers are increasingly unwilling to spend at lower prices.

Live Chart: https://t.co/lRtBe69Phz pic.twitter.com/NIQzwkXQDv

— glassnode (@glassnode) July 16, 2022

Bitcoin’s price is $21,013 at the time of writing, down almost 70% from its all-time high of $69,044 in November 2021. The current price puts around 45% of Bitcoin holders with an on-paper loss, according to crypto intelligence firm IntoTheBlock.

According to the Glassnode chart, other times that saw similar levels of Bitcoin hodling were during the end of the bear markets of 2012, 2015, and 2018.

Last week, Coinbase’s head of institutional research, David Duong, wrote in a July 12 report titled “The Elusive Bottom” that on-chain data suggests that recent BTC selling has been carried out “almost exclusively” by short-term speculators. Long-term BTC holders “have not been selling into the market weakness,” he added.

“These holders own a highly concentrated ~77% of the total supply, which is down slightly from 80% to start the year but still quite high,” he explained before adding:

“We see this is a positive sentiment indicator as we believe these holders are less likely to sell BTC during turbulent periods.”

Earlier in the month, Glassnode analysts noted that the Bitcoin market had seen an almost complete purge of “tourists,” noting that activity on the network is at levels concurrent with the deepest part of the bear market in 2018 and 2019.

Related: Bitcoin ready to attack key trendline, says data as BTC price holds $20K

Glassnode revealed that the number of active addresses and entities had seen a downtrend since November 2021, implying new and existing investors alike are not interacting with the network.

Additionally, the number of non-zero BTC addresses has reached an all-time high of 42,530,652, according to the firm.



Read the full article here

Follow us on Google News to get the latest Updates

 
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Bitcoin analysts flag key BTC price points as bulls cling to $26K

September 26, 2023

JPMorgan’s subsidiary Chase UK to restrict crypto transactions

September 26, 2023

Bitcoin exchange volume tracks 5-year lows as Fed inspires BTC hodling

September 26, 2023

Bitcoin gains legal recognition as digital currency in Shanghai China

September 26, 2023

Bitcoin price at risk? US Dollar index confirms bullish ‘golden cross’

September 26, 2023

Bloomberg Crypto Analyst Says Bitcoin (BTC) at Historic Highs in Two On-Chain Metrics Amid Bear Market

September 25, 2023
Add A Comment

Leave A Reply Cancel Reply

Top Articles

US Treasury sanctions Ethereum wallet tied to cartel over ‘illicit fentanyl trafficking’

September 26, 2023

Why Binance and Banking Giant MUFG Want to Issue Stablecoins in Japan

September 26, 2023

Can the Bitcoin Price Pump to $30,000 This Week? Traders Eye New Crypto Presale Bitcoin Minetrix With Stake to Mine Utility Instead

September 26, 2023
# Name Price Changes 24h Market CAPVolume Supply
ApeWatcher News
Twitter Telegram
  • Privacy Policy
  • Sources
  • Terms and Conditions
  • Contact
  • Advertise
© 2023 Ape Watcher News

Type above and press Enter to search. Press Esc to cancel.