ביטקאָין LTHs וואָס האָבן געקויפט בעשאַס 2017-2020 זענען נישט סעלינג נאָך

Data from Glassnode shows the recent selling from Bitcoin long-term holders has come from those who bought at more recent prices, and not the hodlers who got in during the 2017-2020 cycle.

Bitcoin Long-Term Holders Have Been Selling At An Average Loss Of 33%

לויט די לעצטע וואכנשריפט באריכט פון גלאַסנאָדע, the BTC long-term holder SOPR has had a value of less than one during recent weeks.

די "אויסגעגעבן רעזולטאַט נוץ פאַרהעלטעניש” is an indicator that tells us whether Bitcoin investors are selling at a profit or at a loss right now.

When the value of the ratio is greater than one, it means the market as a whole is selling at some profit right now. On the other hand, the indicator’s value being less than one implies the investors are realizing some loss on average currently.

Naturally, the metric’s value being exactly equal to one suggests the market is just breaking even at the moment.

די "לאַנג-טערמין האָלדער” group is a cohort that includes all investors who held their Bitcoin for at least 155 days before selling.

Now, here is a chart that shows the trend in the SOPR over the last decade specifically for these LTHs:

Looks like the value of the indicator has been going down recently | Source: Glassnode's The Week Onchain - וואָך 28, 2022

As you can see in the above graph, the Bitcoin long-term holders have been selling at an average loss of 33% in recent days.

פֿאַרבונדענע רידינג | Bitcoin Bearish Signal: Leverage Ratio Is Still Very High

However, as the below chart shows, the average cost basis of the LTHs is around $22.3k, which is only around 6% below the BTC price at the time the report came out (it’s now 10% at the current rate).

The BTC price seems to have sunk below the LTH cost basis recently | Source: Glassnode's The Week Onchain - וואָך 28, 2022

The LTHs selling at an average of 33% loss despite the cost basis putting them only 10% underwater means the recent selling has majorly come from hodlers who bought during the recent highs.

פֿאַרבונדענע רידינג | געוועזענער ביטמעקס סעאָ אַרטהור הייַעס זאגט "גרייטן" פֿאַר אַ מאַסיוו ביטקאָין ראַלי

This would suggest that LTHs who accumulated during the 2017-2020 cycle or earlier (and hence are either in profit, or in little loss) are still holding strong onto their Bitcoin.

בטק פּרייס

אין דער צייט פון שרייבן, די פּרייַז פון ביטקאָין פלאַץ אַרום $ 19.7 ק, אַרויף 1% אין די לעצטע זיבן טעג. אין די לעצטע חודש, די קריפּטאָ האט פאַרפאַלן 31% אין ווערט.

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

די ווערט פון די קריפּטאָ סימז צו האָבן אַראָפּ אין די לעצטע ביסל טעג | מקור: בטקוסד אויף טראַדינגוויעוו

פיטשערד בילד פון Kanchanara אויף Unsplash.com, טשאַרץ פון TradingView.com, Glassnode.com