ביטקאָין לאַנג-טערמין האָלדערס אָנהייבן קאַפּיטולאַטינג צווישן פּאַניק

On-chain data suggests Bitcoin long-term holders have started to capitulate recently as the sharp price drop causes panic in the market.

Bitcoin CDD Inflow Indicator Jumps Up, Showing Long-Term Holders Have Been Selling

ווי שפּיציק אויס דורך אַ CryptoQuant פּאָסטן, the recent price drop has pushed long-term holders towards selling their BTC.

“Coin days” are the number of days a Bitcoin has remained dormant for. An example: if 1 BTC doesn’t move for 5 days, it accumulates 5 coin days.

When such a coin would be transferred or moved, its coin days would be “destroyed” as the number will reset back to zero.

פֿאַרבונדענע רידינג | ביטקאָין סליפּס אונטער $ 33k ווי עקסטשאַנגע ינפלאָוז דערגרייכן די העכסטן ווערט זינט יולי 2021

The “coin days destroyed” (CDD) metric naturally measures how many of these coin days are being destroyed in the entire market at any given time.

A modification of this indicator, called the “Bitcoin וועקסל ינפלאָו CDD,” tells us about only those coin days that were destroyed by a transfer to exchanges.

A high value of the inflow CDD generally suggests that לאַנג-טערמין האָלדערס (who accumulate a large number of coin days) are moving their coins to exchanges.

Investors usually transfer their Bitcoin to exchanges for selling purposes, so LTHs transferring a large number of their coins can be bearish for the price of the crypto.

Now, here is a chart that shows the trend in the BTC inflow CDD over the past month:

די ווערט פון די גראדן סימז צו האָבן ספּיקעד לעצטנס | מקור: קריפּטאָקוואַנט

As you can see in the above graph, the Bitcoin exchange inflow CDD has observed some high values over the last few days.

This shows that long-term holders have been selling amid the recent panic in the market due to the price drop from $38k to below $30k.

פֿאַרבונדענע רידינג | טערראַ ביץ טעסלאַ ווי צווייט-גרעסטן פֿירמע ביטקאָין האָלדער נאָך $ 1.5 ב קויפן

The especially large spikes in the last two days suggest LTHs may have started to go through a phase of capitulation.

Since LTHs usually make up the Bitcoin cohort that is the least likely to sell, capitulation from them is a negative sign for the price of the coin.

בטק פּרייס

אין דער צייט פון שרייבן, די פּרייַז פון ביטקאָין פלאַץ אַרום $ 31.6 ק, אַראָפּ 18% אין די לעצטע זיבן טעג. אין די לעצטע חודש, די קריפּטאָ האט פאַרפאַלן 26% אין ווערט.

די אונטן טשאַרט ווייזט די גאַנג אין די פּרייַז פון די מאַטבייע אין די לעצטע פינף טעג.

Looks like the price of BTC has observed a plunge in the past few days | Source: בטקוסד אויף טראַדינגוויעוו

Bitcoin’s drop has continued today as the crypto briefly touched below $30k for the first time since July of last year, before rebounding back to the current level.

פעאַטורעד בילד פֿון Unsplash.com, טשאַרץ פֿון TradingView.com, CryptoQuant.com