Maybe these holders are not buying coins just to sell them at a loss a bit later on...
I think a lot of buyers at areas like $30k were buying for the fundamentals or dcaing anyway (and all other drops/psychological price levels).
There was probably a lot of buying around $30k and a lot of immediate selling though too from people who got too nervous about holding bitcoin through a loss (perhaps weak hands or people who knew there was a good chance they could buy lower).
Topic: STHs not selling (Read 85 times)
Current dip is due to the CPI report and rate hikes, which is just another FUD vector that Bitcoin has to overcome...
STHs are not selling, MTS are not selling LTHs are buying, whales are buying, weak hands shouldn't have any coins since 2017...yet..
Back in May Glassnode said holders are soaking every available coin at 30k, seems like there were too many coins to soak.
That you should definitely look somewhere else for a real analyst.
I will never forget how glassnode started its adventure into predicting stuff, and from their track record, just two weeks ago:
‘Bitcoin Investors Not Out of the Woods Yet,’ Analysts Predicting Further Capitulation
Back in May Glassnode said holders are soaking every available coin at 30k, seems like there were too many coins to soak.
What do you think about this?
Some analysts ~
Some analysts ~
That you should definitely look somewhere else for a real analyst.
I will never forget how glassnode started its adventure into predicting stuff, and from their track record, just two weeks ago:
‘Bitcoin Investors Not Out of the Woods Yet,’ Analysts Predicting Further Capitulation
Is it still possible for bitcoin to fall below $14000 that some analysts predicted when some bulls are not ready to sell yet and some even bought more bitcoin at a price below $20000.
Bitcoin can fall below $14k, and that's not because some analyst predicted it, that would be because any price action is possible in the crypto market.While $14k is possible, I would say it's not probable at this point. There would need to be a sufficient sell pressure to pull the price to such levels, and with holders not selling off, that is not likely to happen yet.
Sentiments of holders and traders can of course change at any point in time, so predictions and speculations can always be proved wrong.
https://blockchair.com/news/extreme-demand-for-btc-at-20k-creating-new-support-levels-glassnode--1b90dcb55d
I recently saw this in a news that short term holders (STHs) are not selling bitcoin for now and maybe it would be possible that the STH will become a long term holders (LTH) and may not sell at least for 155 days.
The Glassnide onchain newsletter about the report
What do you think about this?
Some analysts have said already that bitcoin may fall below $14000, but some bulls are not ready to sell, they may only sell when bitcoin reach a significant high price only which may not happen for now. Is it still possible for bitcoin to fall below $14000 that some analysts predicted when some bulls are not ready to sell yet and some even bought more bitcoin at a price below $20000.
I recently saw this in a news that short term holders (STHs) are not selling bitcoin for now and maybe it would be possible that the STH will become a long term holders (LTH) and may not sell at least for 155 days.
Quote
In the latest The Week OnChain Newsletter published on July 25, Glassnode’s UkuriaOC pointed to “extreme demand” around the $20,000 region, noting that at each psychological price level from $40,000 to $30,000 to $20,000 creates a new group of short-term holders (STHs).
The Glassode analyst noted that much of the supply that new STHs bought during that drawdown has not been sold even though prices are significantly down. This may be due to less price sensitive buyers, or those who care more about Bitcoin fundamentals than investment gains, driving demand.
The Glassode analyst noted that much of the supply that new STHs bought during that drawdown has not been sold even though prices are significantly down. This may be due to less price sensitive buyers, or those who care more about Bitcoin fundamentals than investment gains, driving demand.
The Glassnide onchain newsletter about the report
Quote
The report concludes by stating that while the “worst of the capitulation may be over,” BTC could remain in this low range for some time as the cost basis for new coin buyers has diverged below the realized price for only about 17 days straight. Previous bear cycles have endured low divergences between 248 and 575 days.
What do you think about this?
Some analysts have said already that bitcoin may fall below $14000, but some bulls are not ready to sell, they may only sell when bitcoin reach a significant high price only which may not happen for now. Is it still possible for bitcoin to fall below $14000 that some analysts predicted when some bulls are not ready to sell yet and some even bought more bitcoin at a price below $20000.
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