{"id":539657,"date":"2023-06-26T16:30:15","date_gmt":"2023-06-26T16:30:15","guid":{"rendered":"https:\/\/wncen.com\/?p=539657"},"modified":"2024-06-11T08:08:29","modified_gmt":"2024-06-11T08:08:29","slug":"bitcoin-long-term-holder-supply-stagnates-ath-mean","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-long-term-holder-supply-stagnates-ath-mean\/","title":{"rendered":"Bitcoin Long-Term Holder Supply Stagnates At ATH, What Does This Mean?"},"content":{"rendered":"

On-chain data shows that the Bitcoin long-term holder supply has stagnated near an all-time high. Here’s what it might mean.<\/p>\n

Bitcoin Long-Term Holder Supply Is Near ATH Right Now<\/h2>\n

According to data from the on-chain analytics firm Glassnode<\/a>, the supply of long-term holders currently stands at around 14.47 million BTC. The “long-term holder (LTH) group”<\/a> is a Bitcoin cohort that includes all investors who bought their coins more than 155 days ago.<\/p>\n

These LTHs are the strong hands of the market, as they generally hold their BTC for large stretches of time without showing any movement, regardless of what may be going on in the wider market.<\/p>\n

Since this cohort barely budges even while FUD has taken over the sector, or a profitable selling opportunity has appeared due to a rally, the times that they do sell can be the ones to look out for, as they can be worrying signs for the market.<\/p>\n

The “LTH supply<\/a>” is an indicator that measures the total amount of Bitcoin that these holders are currently carrying. Changes in the value of this metric can provide us with hints about the latest behavior of the LTHs.<\/p>\n

Now, here is a chart that shows the trend in the Bitcoin LTH supply over the past half a year:<\/p>\n

\"Bitcoin<\/p>\n

Looks like the value of the metric seems to have not moved much in recent days | Source: Glassnode on Twitter<\/a><\/pre>\n
As displayed in the above graph, the Bitcoin LTH supply had been slowly going up during the first couple of months of the rally, implying that a net amount of coins were maturing into this group.<\/p>\n
In late Feb, however, the indicator started declining and reached a low in March. During this time, the asset’s price took a deep hit, implying that some of the selling from the LTHs may have contributed to it.<\/p>\n
Related Reading: Bitcoin Bullish Signal: Exchange Whale Ratio Plunges<\/a><\/div>\n
After consolidating around those lows, the indicator finally began to show a sharp rise in April, which continued until well into May, when the indicator set a new all-time high of 14.49 million BTC.<\/p>\n
Since then, the Bitcoin LTH supply has mostly moved sideways, as the metric today has a value of 14.47 million BTC, just 20,000 BTC off the aforementioned all-time high.<\/p>\n
During this period where the LTH supply has hit stagnation, the market has gone through FUD like the SEC charges<\/a> against Binance and Coinbase, and the latest rally in the price above the $30,000 level has also just occurred.<\/p>\n
The LTHs may have participated in some selling during these events, but the fact that their supply has been flat would suggest that there is also an equal amount of coins maturing into the group that is making up for any distribution.<\/p>\n
Related Reading: Momentum: Why The Bitcoin Train Is Ready To Leave The Station<\/a><\/div>\n
These diamond hands standing strong among the latest sharp price rise, especially, is a positive sign for the market, as it shows that these investors think a better profit-taking opportunity would be coming later.<\/p>\n
BTC Price<\/h2>\n
At the time of writing, Bitcoin is trading around $30,300, up 15% in the last week.<\/p>\n
\"Bitcoin<\/p>\n
BTC has shot up recently | Source: BTCUSD on TradingView<\/a><\/pre>\n
Featured image from Kanchanara on Unsplash.com, charts from TradingView.com, Glassnode.com<\/div>\n","protected":false},"excerpt":{"rendered":"
On-chain data shows that the Bitcoin long-term holder supply has stagnated near an all-time high. Here’s what it might mean. Bitcoin Long-Term Holder Supply Is Near ATH Right Now According to data from the on-chain analytics firm Glassnode, the supply of long-term holders currently stands at around 14.47 million BTC. The “long-term holder (LTH) group” is a Bitcoin cohort that includes all investors who bought their coins more than 155 days ago. These LTHs are the strong hands of the market, as they generally hold their BTC for large stretches of time without showing any movement, regardless of what may be going on in the wider market. Since this cohort barely budges even while FUD has taken over the sector, or a profitable selling opportunity has appeared due to a rally, the times that they do sell can be the ones to look out for, as they can be worrying signs for the market. The “LTH supply” is an indicator that measures the total amount of Bitcoin that these holders are currently carrying. Changes in the value of this metric can provide us with hints about the latest behavior of the LTHs. Now, here is a chart that shows the trend in the Bitcoin LTH supply over the past half a year: Looks like the value of the metric seems to have not moved much in recent days | Source: Glassnode on Twitter As displayed in the above graph, the Bitcoin LTH supply had been slowly going up during the first couple of months of the rally, implying that a net amount of coins were maturing into this group. In late Feb, however, the indicator started declining and reached a low in March. During this time, the asset’s price took a deep hit, implying that some of the selling from the LTHs may have contributed to it. Related Reading: Bitcoin Bullish Signal: Exchange Whale Ratio Plunges After consolidating around those lows, the indicator finally began to show a sharp rise in April, which continued until well into May, when the indicator set a new all-time high of 14.49 million BTC. Since then, the Bitcoin LTH supply has mostly moved sideways, as the metric today has a value of 14.47 million BTC, just 20,000 BTC off the aforementioned all-time high. During this period where the LTH supply has hit stagnation, the market has gone through FUD like the SEC charges against Binance and Coinbase, and the latest rally in the price above the $30,000 level has also just occurred. The LTHs may have participated in some selling during these events, but the fact that their supply has been flat would suggest that there is also an equal amount of coins maturing into the group that is making up for any distribution. Related Reading: Momentum: Why The Bitcoin Train Is Ready To Leave The Station These diamond hands standing strong among the latest sharp price rise, especially, is a positive sign for the market, as it shows that these investors think a better profit-taking opportunity would be coming later. BTC Price At the time of writing, Bitcoin is trading around $30,300, up 15% in the last week. BTC has shot up recently | Source: BTCUSD on TradingView Featured image from Kanchanara on Unsplash.com, charts from TradingView.com, Glassnode.com<\/p>\n","protected":false},"author":542,"featured_media":539676,"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":[428,84297,86770,84666,1119,1144],"class_list":["post-539657","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-ath","tag-bitcoin-long-term-holder-supply","tag-bitcoin-long-term-holders","tag-btc","tag-btcusd"],"acf":[],"yoast_head":"\nBitcoin Long-Term Holder Supply Stagnates At ATH, What Does This Mean?<\/title>\n<meta name=\"description\" content=\"On-chain data shows the Bitcoin long-term holder supply has stagnated near the all-time high. 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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 Long-Term Holder Supply Stagnates At ATH, What Does This Mean?","url":"http:\/\/wncen.com\/news\/bitcoin-long-term-holder-supply-stagnates-ath-mean\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-long-term-holder-supply-stagnates-ath-mean\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/06\/kanchanara-9pCV2MB65y8-unsplash-scaled.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/06\/kanchanara-9pCV2MB65y8-unsplash-scaled.jpg?fit=2560%2C1707"},"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 ath","bitcoin long-term holder supply","bitcoin long-term holders","btc","btcusd"],"dateCreated":"2023-06-26T16:30:15Z","datePublished":"2023-06-26T16:30:15Z","dateModified":"2024-06-11T08:08:29Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Long-Term Holder Supply Stagnates At ATH, What Does This Mean?\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-long-term-holder-supply-stagnates-ath-mean\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-long-term-holder-supply-stagnates-ath-mean\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/06\\\/kanchanara-9pCV2MB65y8-unsplash-scaled.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/06\\\/kanchanara-9pCV2MB65y8-unsplash-scaled.jpg?fit=2560%2C1707\"},\"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 ath\",\"bitcoin long-term holder supply\",\"bitcoin long-term holders\",\"btc\",\"btcusd\"],\"dateCreated\":\"2023-06-26T16:30:15Z\",\"datePublished\":\"2023-06-26T16:30:15Z\",\"dateModified\":\"2024-06-11T08:08:29Z\"}<\/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\/06\/kanchanara-9pCV2MB65y8-unsplash-scaled.jpg?fit=2560%2C1707","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/539657"}],"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=539657"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/539657\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/539676"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=539657"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=539657"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=539657"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}