Bitcoin (BTC) Short-Term Holders Not Willing to Cash Out Amid SEC FUD: Data – Crypto News – Crypto News
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Two Things to Watch in Bitcoin's Price Following the Recent Pump Two Things to Watch in Bitcoin's Price Following the Recent Pump

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Bitcoin (BTC) Short-Term Holders Not Willing to Cash Out Amid SEC FUD: Data – Crypto News

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2 years ago

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Periods similar to the ongoing SEC-induced FUD test the resilience of short-term holders – a cohort that is typically the first to flee as the price of crypto-asset tanks.

However, the latest data suggest that the movement of short-term Bitcoin holders depicted strong interest in staying in the market and gaining profitability.

  • A CryptoQuant analyst stated that despite the lackluster in Bitcoin’s price, as it continues to remain trapped within the $25k-$30k range, the possibility for growth in its trajectory is not over yet. The blog post explained,

“According to the short-term holder SOPR metric, when the number 1 of this data maintains for consecutive months, and the pocket value of these holders moves above this level is a sign of a strong interest in staying in the market and gaining profitability. 2015 and 2019 price cycles are good examples.”

  • As such, upon comparing the current cycle with 2019, the analyst noted that the profitability of long-term and short-term holders has not been high enough to trigger heavy selling pressure.
  • Such a trend essentially suggests that Bitcoin has the potential to grow with another wave of demand.
  • Further validating the short-term BTC holders’ resilience is data from Glassnode, which revealed an uptick in hodling activity by this group since the beginning of July after a period of active selling the previous month.
  • Long-term Bitcoin holders were yet another cohort of market participants that have displayed remarkable resilience by focusing on holding their stash.
  • It was found that only a very tiny fraction have transferred their tokens to centralized exchanges.
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