TL;DR
- Long-term Bitcoin investors have sold a significant amount of BTC in the last 30 days.
- Transactions with large amounts of ancient coins have recently occurred on the Bitcoin network.
- The long-term holders net position change metric has reached -669,000 BTC in the last month.
Since the inception of Bitcoin (BTC), long-term investors, known as “diamond hands,” have sold a significant amount of BTC in the last 30 days.
Transactions with large amounts of ancient coins have recently occurred on the Bitcoin network.
Over the last week, multiple transactions with huge amount of old coins took place.
Long-Term Holder Net Position Change sits at -669k $BTC over the last 30 days. https://t.co/bymt1nFfnF pic.twitter.com/SDi0ZHfjjO
— Maartunn (@JA_Maartun) March 25, 2024
The long-term holders net position change metric has reached -669,000 BTC in the last month.
In recent weeks, we have witnessed a series of transactions involving large amounts of dormant coins on the Bitcoin network.
These transactions, attributed to long-term holders, have surprised many in the crypto community.
A notable outflow of 669,000 BTC has been observed from these investors wallets in the last month, suggesting a change in the long-term holders investment strategy.
The Long-Term Holders Net Position Change metric, which tracks the net amount of BTC leaving or entering this pool, has reached a significant negative value in recent weeks.
This trend has led to questions about whether Bitcoin’s diamond hands are losing their firmness
Importantly, these BTC sales by long-term investors have coincided with a number of major events in the cryptocurrency market, including a new all-time high followed by a significant correction.
This sequence of events has led some to speculate whether long-term holders are reevaluating their position in response to market dynamics.
Despite this worrying trend, it is important to remember that long-term holders have historically demonstrated an ability to withstand long-term volatility.
However, the recent increase in BTC selling by these investors suggests that we could be entering a period of increased uncertainty in the cryptocurrency market.
Recent Bitcoin selling activity by long-term investors has raised concerns in the crypto community.
While it is too early to determine the long-term implications of this trend, it is a development that is certainly worth watching in the coming weeks and months.
