Despite Bitcoin falling 21% from its all-time high, the vast majority of Bitcoin held in wallets has not been sold or moved in the past six months.
On-chain data shows that nearly three-quarters of Bitcoin in circulation have not moved in the past six months. This finding is derived from Glassnode’s “hodl wave” chart, which provides a macro view of how long Bitcoin has been held in wallets, with data showing when it was moved.
It turns out that 74% of Bitcoins remain dormant, meaning most of them are untraded, through 2024. This has not changed despite Bitcoin falling 21% from its all-time high.
This data suggests that long-term investors are holding onto their Bitcoin for longer periods of time as a store of value, waiting for possible future price increases. Since this holding trend reduces the tradable supply of Bitcoin, restricting supply could potentially lead to price increases if demand increases.
Short-Term Investors Are Suffering Losses
On the other hand, on August 19, on-chain analyst James Check stated in a post on social media platform X that more than 80% of investors who hold Bitcoin for the short term are currently losing money. These investors are losing money because they bought Bitcoin at higher levels than the current spot prices. Check warned that if these investors continue their panic selling, there could be further declines in prices as in previous years. Short-term investors are defined as those who have held Bitcoin for less than 155 days.
“This means that many investors risk panicking, which could trigger a downtrend like the one seen in 2018, 2019 and mid-2021,” James Check said.
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So who can benefit?
Our friends who have not yet activated the futures section, when you activate your FUTURES transaction section, you will earn $10 when you open it by entering my 88623008 reference code.
I EXPLAIN IN DETAILED.
My brothers and sisters who have become Binance members without a reference, please listen carefully;
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Go to the Futures Section from your application,
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My brothers and sisters who want to complete this transaction and receive the 10 USDT reward until MAY 1 can do so. Afterwards, after activating your account, it is enough to open your first futures transaction.
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WHEN WILL THE REWARD COME?
Your $10 reward will come to the REWARDS section of your Binance application within 30 days from May 1. By activating it from there, you can use your $10 reward, or more than 300 lira, in futures transactions.
You can share this post with your friends in need so that they can also benefit from it.
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