{"id":524685,"date":"2023-03-28T13:30:37","date_gmt":"2023-03-28T13:30:37","guid":{"rendered":"https:\/\/wncen.com\/?p=524685"},"modified":"2024-06-11T09:19:48","modified_gmt":"2024-06-11T09:19:48","slug":"bitcoin-mid-term-holders-50000-btc-bearish","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-mid-term-holders-50000-btc-bearish\/","title":{"rendered":"Bitcoin Mid-Term Holders Move 50,000 BTC, Bearish Signal?"},"content":{"rendered":"

On-chain data shows the Bitcoin “mid-term holders” have been spotted moving 50,000 BTC on the chain, a sign that may be bearish for the price.<\/p>\n

Bitcoin Tokens Aged Between 3-6 Months Have Moved Recently<\/h2>\n

As pointed out by an analyst in a CryptoQuant post<\/a>, this kind of trend has proved to be volatile for the cryptocurrency in the past. The relevant indicator here is the “Spent Output Age Bands<\/a>” (SOAB), which tells us about the total amount of Bitcoin that’s being moved on the network by each of the age bands.<\/p>\n

The “age bands” here refer to groups of coins divided based on the total amount of time they have been dormant inside a single wallet address. The 1-3 months age band, for example, includes all coins that have been sitting still on the blockchain since at least one month and at most three months ago.<\/p>\n

If the SOAB metric is applied to this particular group, then it would track the movements being made by the investors holding said coins. Now, here is a chart that shows the trend in the Bitcoin SOAB for specifically the 3-6 months age band over the last few years:<\/p>\n

\"Bitcoin<\/p>\n

The value of the metric seems to have been quite high in recent days | Source: CryptoQuant<\/a><\/pre>\n
As you can see in the above graph, the quant has highlighted the important points of the trend for the Bitcoin SOAB indicator for the 3-6 months age band.<\/p>\n
Related Reading: Is Bitcoin Undervalued Or Overvalued? Here\u2019s What NVM Ratio Says<\/a><\/div>\n
It looks like generally, whenever the metric has registered a sharp spike, the price of the cryptocurrency has observed some volatility. It also appears like the majority of such instances saw the price of the asset decline shortly after the spikes formed (marked in red in the chart), while only a few of them (highlighted in green) was followed by the cryptocurrency displaying sideways or upwards movement.<\/p>\n
Generally, whenever aged coins move, it’s a sign that the holders are looking to sell. Also, it’s a statistical fact that the longer investors hold onto their coins, the less likely they become to sell at any point. This means that when aged coins are on the move, it’s a sign that even the more resolute Bitcoin investors may have faltered.<\/p>\n
In the current case, the age of the coins is less than six months, so this supply isn’t that old yet. However, since these coins are still on the verge of aging into “long-term holders<\/a>” (investors with coins dormant for more than six months), the movements of this group can still have significant implications for the market.<\/p>\n
From the chart, it’s apparent that these investors, who are sometimes termed the “mid-term holders<\/a>” because of their placement just below the long-term holders, have made another large move recently.<\/p>\n
Related Reading: XRP \u201cSocial Dominance\u201d Hits 1-Year High, Here\u2019s What This Means<\/a><\/div>\n
In this spike, the mid-term holders have transferred a total of 50,000 BTC (about $1.3 billion at the current exchange rate) on the network. It’s currently uncertain whether this spike is a sign of selling from these investors or if it’s just a movement done for another purpose, like changing wallets, but if the historical trend is anything to go by, these spikes have generally not ended well for the cryptocurrency.<\/p>\n
BTC Price<\/h2>\n
At the time of writing, Bitcoin is trading around $26,700, down 5% in the last week.<\/p>\n
\"Bitcoin<\/p>\n
Looks like BTC has declined in the last day | Source: BTCUSD on TradingView<\/a><\/pre>\n
Featured image from Thought Catalog on Unsplash.com, charts from TradingView.com, CryptoQuant.com<\/div>\n","protected":false},"excerpt":{"rendered":"
On-chain data shows the Bitcoin “mid-term holders” have been spotted moving 50,000 BTC on the chain, a sign that may be bearish for the price. Bitcoin Tokens Aged Between 3-6 Months Have Moved Recently As pointed out by an analyst in a CryptoQuant post, this kind of trend has proved to be volatile for the cryptocurrency in the past. The relevant indicator here is the “Spent Output Age Bands” (SOAB), which tells us about the total amount of Bitcoin that’s being moved on the network by each of the age bands. The “age bands” here refer to groups of coins divided based on the total amount of time they have been dormant inside a single wallet address. The 1-3 months age band, for example, includes all coins that have been sitting still on the blockchain since at least one month and at most three months ago. If the SOAB metric is applied to this particular group, then it would track the movements being made by the investors holding said coins. Now, here is a chart that shows the trend in the Bitcoin SOAB for specifically the 3-6 months age band over the last few years: The value of the metric seems to have been quite high in recent days | Source: CryptoQuant As you can see in the above graph, the quant has highlighted the important points of the trend for the Bitcoin SOAB indicator for the 3-6 months age band. Related Reading: Is Bitcoin Undervalued Or Overvalued? Here\u2019s What NVM Ratio Says It looks like generally, whenever the metric has registered a sharp spike, the price of the cryptocurrency has observed some volatility. It also appears like the majority of such instances saw the price of the asset decline shortly after the spikes formed (marked in red in the chart), while only a few of them (highlighted in green) was followed by the cryptocurrency displaying sideways or upwards movement. Generally, whenever aged coins move, it’s a sign that the holders are looking to sell. Also, it’s a statistical fact that the longer investors hold onto their coins, the less likely they become to sell at any point. This means that when aged coins are on the move, it’s a sign that even the more resolute Bitcoin investors may have faltered. In the current case, the age of the coins is less than six months, so this supply isn’t that old yet. However, since these coins are still on the verge of aging into “long-term holders” (investors with coins dormant for more than six months), the movements of this group can still have significant implications for the market. From the chart, it’s apparent that these investors, who are sometimes termed the “mid-term holders” because of their placement just below the long-term holders, have made another large move recently. Related Reading: XRP \u201cSocial Dominance\u201d Hits 1-Year High, Here\u2019s What This Means In this spike, the mid-term holders have transferred a total of 50,000 BTC (about $1.3 billion at the current exchange rate) on the network. It’s currently uncertain whether this spike is a sign of selling from these investors or if it’s just a movement done for another purpose, like changing wallets, but if the historical trend is anything to go by, these spikes have generally not ended well for the cryptocurrency. BTC Price At the time of writing, Bitcoin is trading around $26,700, down 5% in the last week. Looks like BTC has declined in the last day | Source: BTCUSD on TradingView Featured image from Thought Catalog on Unsplash.com, charts from TradingView.com, CryptoQuant.com<\/p>\n","protected":false},"author":542,"featured_media":524697,"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":[428,85841,88046,88047,1119,1144],"class_list":["post-524685","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-bearish-signal","tag-bitcoin-mid-term-holders","tag-bitcoin-soab","tag-btc","tag-btcusd"],"acf":[],"yoast_head":"\nBitcoin Mid-Term Holders Move 50,000 BTC, Bearish Signal?<\/title>\n<meta name=\"description\" content=\"On-chain data shows the Bitcoin "mid-term holders" have been spotted moving 50,000 BTC on the chain, a sign that may be bearish for the price. 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Keshav has been writing for many years, first as a hobbyist and later as a freelancer. He has experience working in a variety of niches, even fiction at one point, but the cryptocurrency industry has been the longest he has been attached to. In terms of official educational qualifications, Keshav holds a bachelor\u2019s degree in Physics from one of the premier institutes of India, the University of Delhi (DU). He started the degree with an aim of eventually making a career in Physics, but the onset of COVID led to a shift in plans. The virus meant that the college classes had to be delivered in the online-mode and with it came free time for him to explore other passions. Initially only seeking to make some beer money, Keshav unexpectedly landed clients offering real projects, after which there was no looking back. Writing was something he had always enjoyed and to be able to do it for a living was like a dream come true. Keshav completed his Physics degree in 2022 and has been focusing on his writing career since, but that doesn\u2019t mean his passion for Physics has ended. He eventually plans to re-enter university to obtain a masters degree in the same field, but perhaps only to satiate his own interest rather than for using it as a means to find employment.. Keshav has found blockchain and its concepts fascinating ever since he started going down the rabbit-hole back in 2020. On-chain analysis in particular has been something he likes to research more about, which is why his NewsBTC pieces tend to involve it in some form. Being of the science background, Keshav likes if concepts are clear and consistent, so he generally explains the indicators he talks about in a bit of detail so that the readers can perhaps come out having understood and learnt something new. As for hobbies, Keshav is super into football, anime, and videogames. He enjoys football not only as a watcher, but also as a player. For games, Keshav generally tends towards enjoying singleplayer adventures, with EA FC (formerly FIFA) being the only online game he is active in. Though, perhaps due to being ultra-focused on the game, he is today a semi-pro on the EA FC scene, regularly participating in tournaments and sometimes even taking back prize money. Because of his enthusiasm for anime and games, he also self-learned Japanese along the way to consume some of the untranslated gems out there. The skill didn\u2019t merely remain as just a hobby, either, as he put it to productive use during his exploration for small-time gigs at the start of COVID, fulfilling a couple of Japanese-to-English translation jobs. Keshav is also big into fitness, with agility and acceleration-related workouts making a big part of his program due to the relevance they have in football. On top of that, he also has a more traditional strength based program for the gym, which he does to maintain an overall fitness level of his body.","sameAs":["https:\/\/www.linkedin.com\/in\/keshavverma29\/","https:\/\/x.com\/https:\/\/twitter.com\/keshavvarma29"],"url":"https:\/\/wncen.com\/author\/hououinkyouma29\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Mid-Term Holders Move 50,000 BTC, Bearish Signal?","url":"http:\/\/wncen.com\/news\/bitcoin-mid-term-holders-50000-btc-bearish\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-mid-term-holders-50000-btc-bearish\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/03\/thought-catalog-I0TDRP0fj6Y-unsplash-2-scaled.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/03\/thought-catalog-I0TDRP0fj6Y-unsplash-2-scaled.jpg?fit=2560%2C1918"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Keshav Verma"}],"creator":["Keshav Verma"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin bearish signal","bitcoin mid-term holders","bitcoin soab","btc","btcusd"],"dateCreated":"2023-03-28T13:30:37Z","datePublished":"2023-03-28T13:30:37Z","dateModified":"2024-06-11T09:19:48Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Mid-Term Holders Move 50,000 BTC, Bearish Signal?\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-mid-term-holders-50000-btc-bearish\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-mid-term-holders-50000-btc-bearish\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/03\\\/thought-catalog-I0TDRP0fj6Y-unsplash-2-scaled.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/03\\\/thought-catalog-I0TDRP0fj6Y-unsplash-2-scaled.jpg?fit=2560%2C1918\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Keshav Verma\"}],\"creator\":[\"Keshav Verma\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin bearish signal\",\"bitcoin mid-term holders\",\"bitcoin soab\",\"btc\",\"btcusd\"],\"dateCreated\":\"2023-03-28T13:30:37Z\",\"datePublished\":\"2023-03-28T13:30:37Z\",\"dateModified\":\"2024-06-11T09:19:48Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/03\/thought-catalog-I0TDRP0fj6Y-unsplash-2-scaled.jpg?fit=2560%2C1918","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/524685"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/542"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=524685"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/524685\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/524697"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=524685"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=524685"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=524685"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}