The market is "buying high and selling higher", do you dare?
From March 2022 to July 2024 (a total of 28 months), the changes in BTC holdings in various cost ranges:
1. For investors with a holding cost below $22,000, the total holdings decreased from about 5.95 million to about 4.85 million, and about 1.1 million were sold out.
2. For investors with a holding cost between $22,000 and $43,000, the total holdings increased from about 3.39 million to 4.36 million, and investors increased their holdings by about 970,000. This range is the range with the most net increase in holdings, all of which were bought before the spot ETF was approved.
3. For investors with a holding cost between $43,000 and $53,000, the total holdings decreased from about 2.54 million to about 1.24 million, and about 1.3 million were sold out.
4. Investors with a holding cost of $53,000 to $73,000 increased their total holdings from 2.72 million to 5.54 million, an increase of about 2.82 million. This range has the most holdings, indicating that more investors are entering the market.
The changes in holdings of each holding cost over two years indicate that more investors are still bullish and patiently waiting for the catalyst for a new round of increases.
