{"id":16193,"date":"2024-08-19T10:12:14","date_gmt":"2024-08-19T07:12:14","guid":{"rendered":"https:\/\/forklog.com\/en\/glassnode-reports-74-of-bitcoins-now-classified-as-hodling\/"},"modified":"2024-08-19T10:12:14","modified_gmt":"2024-08-19T07:12:14","slug":"glassnode-reports-74-of-bitcoins-now-classified-as-hodling","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/glassnode-reports-74-of-bitcoins-now-classified-as-hodling\/","title":{"rendered":"Glassnode Reports 74% of Bitcoins Now Classified as &#8216;Hodling&#8217;"},"content":{"rendered":"<p>Despite a 21% correction in bitcoin from its <span data-descr=\"all-time high\" class=\"old_tooltip\">ATH<\/span>, 74% of coins have not been sold or moved in the past six months, according to data from <a href=\"https:\/\/unchained.com\/hodlwaves\">Glassnode<\/a>.<\/p>\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/1-1157.webp\" alt=\"1-1157\" class=\"wp-image-239178\"\/><figcaption class=\"wp-element-caption\">Data: Glassnode.<\/figcaption><\/figure>\n<p>According to the HODL Waves chart, on August 11, the share of bitcoins held by long-term investors rose to 45%.<\/p>\n<p>Earlier, analysts noted that the increase in the dominance of &#8216;aged&#8217; coins indicates a firming of expectations for higher prices and a reluctance to close positions at current levels.<\/p>\n<p>This holding trend leads to a reduction in available supply, which, with increased demand, will result in the asset&#8217;s appreciation.<\/p>\n<p>Separately, experts highlighted that 80% of coins held by speculators are &#8216;underwater.&#8217;<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Right now, over 80% of <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> Short-Term Holders are underwater, meaning their coin was acquired at a price above the current spot price.<\/p>\n<p>This is similar to 2018, 2019, and mid-2021 which signalled many investors were at risk of panicking, and precipitating a bearish trend. <a href=\"https:\/\/t.co\/8jM7PBqh5z\">pic.twitter.com\/8jM7PBqh5z<\/a><\/p>\n<p>\u2014 _Checkmate ??\u26a1\u2622\ufe0f?\ufe0f (@_Checkmatey_) <a href=\"https:\/\/twitter.com\/_Checkmatey_\/status\/1825328497067540737?ref_src=twsrc%5Etfw\">August 19, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>&#8220;This is similar to situations in 2018, 2019, and mid-2021. At that time, many short-term investors panicked and triggered a bearish trend,&#8221;<\/em> they commented.<\/p>\n<\/blockquote>\n<p>Previously, Glassnode determined that most Mt.Gox payout recipients do not intend to sell their coins. This potentially mitigates the scale of bearish pressure in the coming weeks.<\/p>\n<p>Back in April, former BitMEX CEO Arthur Hayes predicted that the price of the first cryptocurrency would recover from the decline caused by price strengthening and rise to $100,000.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Despite a 21% correction in bitcoin from its ATH, 74% of coins have not been sold or moved in the past six months, according to data from Glassnode. Data: Glassnode. According to the HODL Waves chart, on August 11, the share of bitcoins held by long-term investors rose to 45%. Earlier, analysts noted that the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":16192,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1273,1658,1268],"class_list":["post-16193","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-glassnode","tag-hodling","tag-on-chain-analysis"],"aioseo_notices":[],"amp_enabled":true,"views":"30","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/16193","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=16193"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/16193\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/16192"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=16193"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=16193"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=16193"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}