Bitcoin Long-Term Holders Remain Strong Amidst Market Crash
On-chain data reveals that Bitcoin long-term holders (LTHs) have continued to hold their coins despite the recent market crash. These investors, also known as “diamond hands,” are known for their persistence and reluctance to sell their coins. The crash, which sent Bitcoin’s price to $26,000, did not prompt significant selling from LTHs. In fact, their supply has grown to a new all-time high. This suggests that LTHs have not been affected by the market downturn and remain confident in their investment.
Key Points:
- LTHs are investors who have held onto their coins for more than 155 days.
- They are known for their resilience and minimal trading activity.
- Their supply growth indicates that investors from 155 days ago are maturing into the LTH group.
- LTHs have not panicked or sold their coins during the recent market crash.
- Their lack of depositing to exchanges suggests they have not played a significant role in the crash.
Despite the market volatility, Bitcoin LTHs have remained steadfast in their commitment to holding their coins. Their strong supply growth indicates their confidence in the long-term potential of Bitcoin. The current market crash has not shaken their resolve, and they continue to be a resilient force in the cryptocurrency sector.
Hot Take:
The unwavering commitment of Bitcoin long-term holders amidst the recent market crash showcases their conviction in the future of the cryptocurrency. While short-term traders may panic and react to market fluctuations, LTHs remain steadfast in their belief, earning them the moniker “diamond hands.” Their continued presence and supply growth indicate a strong foundation for Bitcoin’s long-term stability and growth.
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