Glassnode
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đđ #Glassnode report: The cohort of long-term holders is mainly in a mode of dominant retention and accumulation, while short-term holders saw a noticeable increase in their profitability.
By several measures, the average $BTC investor is in a better and more profitable position than they were just a few weeks ago and is experiencing less financial stress across the board.
By several measures, the average $BTC investor is in a better and more profitable position than they were just a few weeks ago and is experiencing less financial stress across the board.
đ $BTC #Glassnode : Each bitcoin bull cycle goes through a euphoric phase, signaling a market top. BTC has yet to see that euphoria in the current cycle!
đ $ETH #Glassnode : Nearly 420,000 ETH have been sent to crypto exchanges in the last three weeks, worth around $1.47 billion.
đ #Glassnode : $BTC outflows from CEX sharply intensified
In February, more than 69,244 BTC were withdrawn from known crypto exchange wallets worth over $3.60 billion.
In February, more than 69,244 BTC were withdrawn from known crypto exchange wallets worth over $3.60 billion.
đ #Glassnode : With $BTC breaking through the $52K region, the Short-Term Holder cohort responded by locking in a Net Realized Profit / Loss of +$647M, the largest since the 2021 ATH formation.
#Investors do not want to sell #Bitcoin ... and sudden action towards crypto.
_The percentage of bitcoin's circulating supply that was last active on-chain at least a year ago has reached a record high of 70.35%, surpassing the previous peak of 69.35% in July, according to data tracked by blockchain analytics firm #Glassnode . The new all-time high reflects âstrong belief in Bitcoin following the headwinds the currency experienced after hitting all-time highs in 2021,â according to #Reflexivity research.
$BTC
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_The percentage of bitcoin's circulating supply that was last active on-chain at least a year ago has reached a record high of 70.35%, surpassing the previous peak of 69.35% in July, according to data tracked by blockchain analytics firm #Glassnode . The new all-time high reflects âstrong belief in Bitcoin following the headwinds the currency experienced after hitting all-time highs in 2021,â according to #Reflexivity research.
$BTC
#FollowUsNow To see more news and details about digital currencies đŻâ đđ”
đ $BTC #Glassnode : the level of 62000 is an important support/resistance zone - about 210k BTC were traded on it. The loss of this level may lead to a price drop to 51000.
đ $BTC #Glassnode : Short-term holders have cumulatively moved $2 billion worth of BTC onto exchanges - the fourth largest move in 2 years
đ #Glassnode : trading volumes at 42500+- amounted to more than 1 million $BTC , this range may become an important support level.
đą #Glassnode : In terms of market sentiment, historically, after moving from capitulation to hope, optimism, and finally faith, $BTC has often experienced a short correction phase, but the trend is bullish globally and large-scale euphoria is still far from being reached. Long-term holders remain steadfast.
*The long-term peak in BTC has historically occurred 540 days after Halving
*The long-term peak in BTC has historically occurred 540 days after Halving
đ± $BTC #Glassnode : Panic selling yesterday resulted in 111,000 BTC worth $5 billion being dumped. Of that, $4 billion were sold at a loss.
đ #Glassnode report: Despite the modest increase in spending on old coins since the #ETF was approved, most long-term $BTC investors are still unwilling to part with their coins at current prices.
Network activity of organizations remains low, but the volume of money transferred within the network and, in particular, to exchanges remains stable and resembles previous bull market cycles.
Network activity of organizations remains low, but the volume of money transferred within the network and, in particular, to exchanges remains stable and resembles previous bull market cycles.
đ #Glassnode : judging by the high volume trading and whale buying, the $41800 - 42500 zone in $BTC is now a very important support level as many of the institutional traders have an average breakeven price in this zone.
Navigating Bitcoin's High-Risk Territory: Insights from Glassnode and Grayscale on Post-Halving Opti
- Recent weeks witnessed heightened volatility in the market.
- Bitcoin surged towards the $50,000 mark amidst the turbulence.
- However, uncertainty and the looming possibility of sell-offs remain prevalent.
- Glassnode's MVRV ratio signals a concerning "high risk" landscape, hinting at potential profit-taking among long-term holders.
- Contrary data suggests that long-term investors might not be inclined to sell despite the risk.
- Grayscale holds a contrasting view, advocating for Bitcoin ETFs to lure in fresh investors and counterbalance miner selling post-halving.
Bitcoin is currently encountering resistance near the $49,000 mark but is inching closer to the significant $50,000 threshold amidst heightened volatility in recent weeks, as indicated by various metrics.
Market analysis suggests that Bitcoin may be on the cusp of entering the next phase of a bull market, supported by insights from Glassnode indicating increased attention and activity among long-term holders. However, this potential upward momentum is tempered by concerns of a looming sell-off and market uncertainty.
Glassnode's assessment, particularly through the MVRV ratio, suggests that Bitcoin is treading in a "high-risk" territory, indicating that long-term investors have accrued significant profits and could potentially initiate profit-taking actions. Despite this, indicators such as supply profitability and net unrealized profit/loss suggest that many investors are holding onto their positions, possibly in anticipation of further price appreciation.
Another factor influencing Bitcoin's future trajectory is the emergence of exchange-traded products (ETPs), particularly Bitcoin ETFs, which are anticipated to play a pivotal role in shaping the market dynamics, especially leading up to the upcoming halving event in April 2024.
The impending halving event, coupled with the influence of ETFs, has already begun to impact Bitcoin's price dynamics. Although the cryptocurrency recently flirted with the $50,000 mark, it faces resistance around the $48,969 level, with potential support seen around the 20-day EMA at approximately $44,557.
While Bitcoin appears poised for a potential breakout above $50,000, the possibility of a rejection at current levels necessitates caution, highlighting the inherent volatility and speculative nature of cryptocurrency investments. As always, investors are advised to conduct thorough research and exercise prudence in their financial decisions.
#Bitcoin #BTC #Glassnode #grayscale #cryptocurrency
$BTC
- Bitcoin surged towards the $50,000 mark amidst the turbulence.
- However, uncertainty and the looming possibility of sell-offs remain prevalent.
- Glassnode's MVRV ratio signals a concerning "high risk" landscape, hinting at potential profit-taking among long-term holders.
- Contrary data suggests that long-term investors might not be inclined to sell despite the risk.
- Grayscale holds a contrasting view, advocating for Bitcoin ETFs to lure in fresh investors and counterbalance miner selling post-halving.
Bitcoin is currently encountering resistance near the $49,000 mark but is inching closer to the significant $50,000 threshold amidst heightened volatility in recent weeks, as indicated by various metrics.
Market analysis suggests that Bitcoin may be on the cusp of entering the next phase of a bull market, supported by insights from Glassnode indicating increased attention and activity among long-term holders. However, this potential upward momentum is tempered by concerns of a looming sell-off and market uncertainty.
Glassnode's assessment, particularly through the MVRV ratio, suggests that Bitcoin is treading in a "high-risk" territory, indicating that long-term investors have accrued significant profits and could potentially initiate profit-taking actions. Despite this, indicators such as supply profitability and net unrealized profit/loss suggest that many investors are holding onto their positions, possibly in anticipation of further price appreciation.
Another factor influencing Bitcoin's future trajectory is the emergence of exchange-traded products (ETPs), particularly Bitcoin ETFs, which are anticipated to play a pivotal role in shaping the market dynamics, especially leading up to the upcoming halving event in April 2024.
The impending halving event, coupled with the influence of ETFs, has already begun to impact Bitcoin's price dynamics. Although the cryptocurrency recently flirted with the $50,000 mark, it faces resistance around the $48,969 level, with potential support seen around the 20-day EMA at approximately $44,557.
While Bitcoin appears poised for a potential breakout above $50,000, the possibility of a rejection at current levels necessitates caution, highlighting the inherent volatility and speculative nature of cryptocurrency investments. As always, investors are advised to conduct thorough research and exercise prudence in their financial decisions.
#Bitcoin #BTC #Glassnode #grayscale #cryptocurrency
$BTC
