The corrective phase of Bitcoin set a four -month hollow at $ 76,600 on March 11. Despite this drop, long -term holders have continued to contain large amounts of BTC, which suggests a “single market dynamic in the future,” said New Research.
“The activity of long -term holders remains largely moderate, with a significant drop in their pressure on the sale side,” said Glassnode in a report on the March 18 markets.
Long -term holders show signs of rising
Bitcoin recovery comes while the sales pressure among long -term holders (LTH) – wallets that have Bitcoin for at least 155 days – begins to decline.
The binary expenditure indicator, a metric used to determine when the LTH spends a significant proportion of their assets in a sustained manner, shows a slowdown (see the graph below) while the LTH Supply also begins to bounce after several months of decline.
“This suggests that there is a greater desire to hold parts among this cohort,” noted Glassnode, adding:
“This may represent a change of feeling, with a behavior of long-term holders moving away from the distribution on the sale side.”
Bitcoin: binary indicator of LTH expenses. Source: Glassnode
The heights of the bullish market are often marked by intense sale of the sale and a strong reduction in profits among LTHs, which signals a complete passage to lower behavior.
However, despite the withdrawal of Bitcoin in recent weeks, this cohort of investors continues to contain a large part of their profits, in particular for this later stage of the cycle, said Glassnode.
This could suggest that long -term holders can always expect BTC prices later in the year.
“This interesting observation can indicate a more unique market dynamic in the future.”
Bitcoin: The cumulative LTH made the profit. Source: Glassnode
New accumulation of Bitcoin whales reshape the markets
The new Bitcoin whales, addresses at least 1,000 BTC, where each room has an average age of acquisition of less than six months, accumulate aggressively, according to cryptocurrency.
This signals a strong conviction in the long -term Bitcoin perspectives among the new major investors.
These portfolios have collectively acquired more than a million BTC since November 2024, “positioning itself as one of the most influential players on the market,” said independent cryptocurrency analyst, in an analysis of March 7.
The graph below shows that their pace has accelerated in particular in recent weeks, “accumulating more than 200,000 BTC this month”.
“This sustained entry highlights a change in market dynamics, suggesting increased institutional or high shuttle participation.”
Bitcoin Supply owned by new whales. Source: cryptocurrency
Meanwhile, several Crypto leaders told Cintelegraph that the recent drop in bitcoin prices was a “normal correction”, the market expecting only a new story and a cycle cycle to come.
But not everyone agrees. For example, the founder and CEO of the cryptotics Ki Young Ju declared that the Bitcoin Bull cycle was finished. He added:
“Wait 6 to 12 months of lower or lateral price action.”
This article does not contain investment advice or recommendations. Each investment and negotiation movement involves risks and readers should conduct their own research when they make a decision.
