Glassnode talks about a possible restoration of buyer interest in BTC and an increase in its volatility. This is discussed in a new weekly report from analysts.
The main and most interesting conclusions from the latest analysis of on-chain metrics from #Glassnode:
- Since the end of April, as the market consolidated, the rate of influx of new liquidity slowed down.
- By the current moment, close to ATH, holders have spent much less than in the spring of 2021, at the peak of sales in the last cycle (41% versus 74%).
- A significant concentration of purchases by short-term holders made directly around the current spot price. Which makes the asset price sensitive to fluctuations.
- Most short-term buyers of#BTChave a “cost” below the current rate. For 1-3 month holders this is about $66,500. Leaving below this level is their “pain”.
- Buyers who hold#BTCfrom 6 months to 3 years, after the price overcomes the $40,000 level, became holders and retain unrealized profits.#Glassnodeexpects this group to partially sell off its BTC if the asset price reaches the new ATH.
- The share of unprofitable coins of speculators (purchase of assets less than 155 days ago) - 26.6%. With the correction to $58,000, it reached 56%.
