tgoop.com/glassnode/951
Last Update:
The Week On-Chain 33, 2024
With the market currently digesting the largest downtrend of the cycle, indecision amongst digital asset investors remains apparent. However, below the surface, a distinct return to HODLing and accumulation appears to be underway.
Executive Summary
- After several months of relatively heavy distribution pressures, the behavior of Bitcoin holders appears to be rotating back towards HODLing and accumulation.
- Activity in spot markets shows that there has been a net bias towards sell-side pressure of late, and this has not yet completely subsided.
- Compared to ATH breaks in past cycles, there is currently a relatively large percentage of network wealth held by the Long-Term Holder cohort.
- Overall, on-chain conditions speak to an undertone of high conviction amongst the Bitcoin holder-base.
Read more in The Week On-Chain newsletter.
BY Glassnode
Share with your friend now:
tgoop.com/glassnode/951