On-Chain Indicator Suggesting Bitcoin Holders Very Reluctant To Sell Coins Despite Post-ETF Correction
Glassnode's lead on-chain analyst, Checkmatey, dives into the BTC bull market correction drawdown metric in a recent video update!
According to the analysis, the current holders of Bitcoin are showing remarkable strength, with recent drawdowns being notably shallow compared to past bull runs. Despite the approval of ETFs, often considered a "sell the news" event, holders are displaying a historic reluctance to part ways with their coins.
đ This metric suggests a unique balance between strong buy-side support and the steadfast conviction of existing BTC holders. Unlike previous cycles with substantial corrections, even post-ETF phase, Bitcoin has only experienced about a 20% correction.
đŒ What does this mean for the crypto landscape? Are we witnessing a paradigm shift in investor behavior? Check out the insightful analysis for a deeper understanding! đĄ
#Bitcoin #cryptoanalysis #HodlStrong #TradeNTell #BTCđ„đ„
