📉 Long-term Bitcoin (BTC) holders are in no rush to sell during the “deepest correction” of the current BTC price cycle. Analytical company Glassnode in its weekly review notes the stability of Bitcoin hodlers.
Despite the strong fall, Bitcoin holders are not panicking. Glassnode notes that the current loop is one of the worst in terms of performance.
Unlike the famous capitulation events in recent Bitcoin history, long-term holders are holding on to their BTC. Even the recent drop to a four-month low of $53,500 for BTC/USD did not shake their resolve.
Glassnode confirms that "this week's loss realization events represent less than 36% of total capital flows across the Bitcoin network."
Miners are also a concern, with a phase of hashrate capitulation reminiscent of the events leading up to the bear market bottom in late 2022.
This article does not contain investment advice or recommendations.