{"id":610499,"date":"2024-05-30T01:00:38","date_gmt":"2024-05-30T01:00:38","guid":{"rendered":"https:\/\/shenyangcang.com\/?p=610499"},"modified":"2024-06-11T08:24:37","modified_gmt":"2024-06-11T08:24:37","slug":"long-term-bitcoin-holders-resist-selling-amid-recent-highs-what-this-signals","status":"publish","type":"post","link":"https:\/\/shenyangcang.com\/news\/long-term-bitcoin-holders-resist-selling-amid-recent-highs-what-this-signals\/","title":{"rendered":"Long-Term Bitcoin Holders Resist Selling Amid Recent Highs \u2014 What This Signals"},"content":{"rendered":"

As Bitcoin flirts with its previous all-time highs, the celebrated ‘diamond hands’\u2014a term in crypto parlance denoting long-term holders (LTHs)\u2014are demonstrating notable restraint, selling their holdings at a rate notably lower than in previous bull markets.<\/p>\n

According to a recent analysis<\/a> by on-chain analytics firm Glassnode, despite the near $70,000 valuation, the selling pressure from these seasoned investors remains subdued.<\/p>\n

Related Reading: Crystal Ball Or Crazy Talk? Analyst Predicts Bitcoin To Hit $156,000 By May 2025<\/a><\/div>\n

Bitcoin Diamond Hands Loyalty Amid Highs<\/h2>\n

The phenomenon of ‘diamond hands’ holding firm as Bitcoin reaches significant price levels is not new but remains a cornerstone of market stability.<\/p>\n

These LTHs, defined by Glassnode as wallets holding Bitcoin for over 155 days, display investment maturity that underpins the market’s resilience.<\/p>\n

Even with Bitcoin’s price hovering around $67,722<\/a>\u2014down 3.5% over the past week but still up slightly by 0.6% in the last 24 hours\u2014these investors are not rushing to cash out.<\/p>\n

Additionally, Glassnode\u2019s report highlights that long-term holders are yet to reach the point of selling<\/a> that typically precedes a market downturn.<\/p>\n

The market value to realized value (MVRV) ratio, a reliable metric to gauge the profitability of long-held Bitcoins, indicates that many LTHs are sitting on substantial unrealized profits. Historically, LTHs begin to sell once this ratio hits particular highs, which has not yet occurred despite the recent peak.<\/p>\n

\"Bitcoin
Bitcoin long-term holder metric. | Source: Glassnode<\/a><\/figcaption><\/figure>\n

Interestingly, during the surge to $73,800 in March\u2014the latest all-time high\u2014long-term holders were not the primary sellers. Glassnode pointed out that only a modest 519k BTC was sold by LTHs during this period, considerably less than in previous bull runs, where monthly sales approached nearly one million BTC.<\/p>\n

Of this, 519k BTC sold, “20% originated from Grayscale ETF holders,” as reported by Glassnode. This restrained selling behavior is significant, suggesting a strategic approach to holding and a belief in further price appreciation.<\/p>\n

\"Bitcoin
Bitcoin long term holder and Grayscale ETF position change. | Source: Glassnode<\/a><\/figcaption><\/figure>\n

The Future Holds Optimism<\/h2>\n

Moving forward, Glassnode anticipates that LTHs will continue to play a pivotal role in the market dynamics. Their recent behavior indicates a shift towards re-accumulation<\/a> following significant distribution around the $73k all-time high.<\/p>\n

\"Bitcoin
BTC price is moving sideways on the 4-hour chart. Source: BTC\/USDT on TradingView.com<\/a><\/figcaption><\/figure>\n

Such patterns underscore a sophisticated strategy: Bitcoin\u2019s most steadfast supporters may be gearing up for another run, anticipating higher peaks<\/a> beyond current levels.<\/p>\n

Related Reading: Crypto Expert Says Market Has Begun A Macro Bullish Expansion \u2013 What This Means For Bitcoin And Altcoin Prices<\/a><\/div>\n

Amid these developments, crypto analyst Cryptorphic has forecasted Bitcoin reaching as high as $156,000 by May 2025<\/a>, adding to the sentiment around Bitcoin, which remains interestingly bullish.<\/p>\n

\n

#Bitcoin<\/a> could hit $156,000 by May 27 2025!<\/p>\n

These green boxes represent the price action after #BTC<\/a> halvings. We’ve never seen a red year after a halving.
\nBitcoin halvings are significant events, here are the percentages of Bitcoin’s price increase one year after each halving\u2026 pic.twitter.com\/QEmNN8OuP2<\/a><\/p>\n

\u2014 Cryptorphic (@Cryptorphic1) May 27, 2024<\/a><\/p><\/blockquote>\n

Featured image created with DALL\u00b7E, Chart from TradingView<\/p>\n","protected":false},"excerpt":{"rendered":"

As Bitcoin flirts with its previous all-time highs, the celebrated ‘diamond hands’\u2014a term in crypto parlance denoting long-term holders (LTHs)\u2014are demonstrating notable restraint, selling their holdings at a rate notably lower than in previous bull markets. According to a recent analysis by on-chain analytics firm Glassnode, despite the near $70,000 valuation, the selling pressure from these seasoned investors remains subdued. Related Reading: Crystal Ball Or Crazy Talk? Analyst Predicts Bitcoin To Hit $156,000 By May 2025 Bitcoin Diamond Hands Loyalty Amid Highs The phenomenon of ‘diamond hands’ holding firm as Bitcoin reaches significant price levels is not new but remains a cornerstone of market stability. These LTHs, defined by Glassnode as wallets holding Bitcoin for over 155 days, display investment maturity that underpins the market’s resilience. Even with Bitcoin’s price hovering around $67,722\u2014down 3.5% over the past week but still up slightly by 0.6% in the last 24 hours\u2014these investors are not rushing to cash out. Additionally, Glassnode\u2019s report highlights that long-term holders are yet to reach the point of selling that typically precedes a market downturn. The market value to realized value (MVRV) ratio, a reliable metric to gauge the profitability of long-held Bitcoins, indicates that many LTHs are sitting on substantial unrealized profits. Historically, LTHs begin to sell once this ratio hits particular highs, which has not yet occurred despite the recent peak. Interestingly, during the surge to $73,800 in March\u2014the latest all-time high\u2014long-term holders were not the primary sellers. Glassnode pointed out that only a modest 519k BTC was sold by LTHs during this period, considerably less than in previous bull runs, where monthly sales approached nearly one million BTC. Of this, 519k BTC sold, “20% originated from Grayscale ETF holders,” as reported by Glassnode. This restrained selling behavior is significant, suggesting a strategic approach to holding and a belief in further price appreciation. The Future Holds Optimism Moving forward, Glassnode anticipates that LTHs will continue to play a pivotal role in the market dynamics. Their recent behavior indicates a shift towards re-accumulation following significant distribution around the $73k all-time high. Such patterns underscore a sophisticated strategy: Bitcoin\u2019s most steadfast supporters may be gearing up for another run, anticipating higher peaks beyond current levels. Related Reading: Crypto Expert Says Market Has Begun A Macro Bullish Expansion \u2013 What This Means For Bitcoin And Altcoin Prices Amid these developments, crypto analyst Cryptorphic has forecasted Bitcoin reaching as high as $156,000 by May 2025, adding to the sentiment around Bitcoin, which remains interestingly bullish. #Bitcoin could hit $156,000 by May 27 2025! These green boxes represent the price action after #BTC halvings. We’ve never seen a red year after a halving. Bitcoin halvings are significant events, here are the percentages of Bitcoin’s price increase one year after each halving\u2026 pic.twitter.com\/QEmNN8OuP2 \u2014 Cryptorphic (@Cryptorphic1) May 27, 2024 Featured image created with DALL\u00b7E, Chart from TradingView<\/p>\n","protected":false},"author":580,"featured_media":610500,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,85960,605,1119,78790,6664,10923,92460],"class_list":["post-610499","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-holders","tag-bitcoin-investors","tag-btc","tag-btcusdt","tag-crypto","tag-crypto-market","tag-long-term-bitcoin"],"acf":[],"yoast_head":"\nLong-Term Bitcoin Holders Resist Selling Amid Recent Highs \u2014 What This Signals<\/title>\n<meta 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A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events\u2014like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ\u2019s arrest\u2014has honed his keen sense of market dynamics. When he isn\u2019t crafting engaging crypto content, you\u2019ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he\u2019s catching some Z\u2019s or scrolling through Elon Musk\u2019s very own X platform\u2014(oops, another screen activity, my bad\u2026) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters\u2014(don\u2019t judge, that\u2019s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or \u201ckaizen,\u201d striving to be 1% better every day. His mantras, \u201cGod knows best\u201d and \u201cEverything is still on track,\u201d reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He\u2019s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck\u2014unflappable. Edyme is like trading in your car for a jet\u2014bold. He\u2019s the guy who\u2019d ask his boss for a pay cut just to prove a point\u2014(uhhh\u2026). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent\u2014okay, maybe that\u2019s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. 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