NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Bitcoin Outlook Post Fed's 0.25% Rate Cut: Historical Patterns And Predictions
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Bitcoin Outlook Post Fed's 0.25% Rate Cut: Historical Patterns And Predictions

Glassnode Suggests Bitcoin Long-Term Holder Conviction Not Lost Yet

Keshav Verma
Keshav Verma
Last Updated: June 11, 2024 7:14 am
3 mins read
Bitcoin

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Data from Glassnode suggests Bitcoin long-term holder capitulation hasn’t reached a scale that would imply a widespread loss of conviction yet.

Bitcoin Long-Term Holder Supply Has Declined By 61.5k BTC Since 6 Nov

According to the latest weekly report from Glassnode, the BTC long-term holder supply has observed a notable decrease recently.

The “long-term holders” (LTHs) make up a cohort that includes all Bitcoin investors who have been holding onto their coins since at least 155 days ago.

Holders belonging to this group are statistically the least likely to sell at any point, so movements from them can have noticeable implications for the market.

The “long-term holder supply” is an indicator that measures the total number of coins currently stored in the wallets of these resolute investors.

Changes in the value of this metric can tell us whether the LTHs are accumulating or selling at the moment.

Now, here is a chart that shows the trend in the Bitcoin LTH supply over the last few years:

Bitcoin Long-Term Holder Supply

Looks like the value of the metric has decreased in the last few days | Source: Glassnode's The Week Onchain - Week 46, 2022

As you can see in the above graph, the Bitcoin LTH supply had been riding a constant uptrend for many months before last week, and set new all-time highs.

This means that the market had been continuously accumulating the crypto as the bear market went on.

Related Reading

Bitcoin

Quant Points Out Striking Resemblance Between 2017 And 2021 Bitcoin Cycles

1 year ago

However, since the 6th of November (when the crash triggered by the FTX collapse began), the indicator has sharply declined, suggesting that LTHs have participated in some selling.

In total, the decline has amounted to around 61.5k BTC exiting the wallets of the LTHs in this period so far.

The chart also includes the data for the 7-day changes in this Bitcoin indicator, and it seems like the metric has a negative value of 48.1k right now.

Related Reading

Bitcoin

Bitcoin Moves Differently From US Stock Market, Correlation Weakening?

1 year ago

This value isn’t negligible, but as is apparent from the graph, this red spike isn’t on the level of the ones observed during the previous selloffs.

The report notes that this could imply there hasn’t been a widespread loss of conviction among Bitcoin’s most resolute holders yet.

Nonetheless, it remains to be seen where the metric goes from here. “Should this develop into a sustained LTH-supply decline however, it may suggest otherwise,” cautions Glassnode.

BTC Price

At the time of writing, Bitcoin’s price floats around $16.8k, down 15% in the last week. Over the last month, the crypto has lost 13% in value.

Bitcoin Price Chart

The value of the crypto seems to still be trading sideways | Source: BTCUSD on TradingView
Featured image from Daniel Dan on Unsplash.com, charts from TradingView.com, Glassnode.com
Tweet123Share196ShareSend
Keshav Verma
Keshav Verma

Keshav Verma

Keshav is currently a senior writer at NewsBTC and has been attached to the website since June 14, 2021.

Read more

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’s 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’t 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’t 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.

Close

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

XRP

XRP Holders Labeled ‘Uneducated Perma Bulls’ By Veteran Trader – Details

Veteran market trader Peter Brandt has reignited debate around XRP after issuing sharp remarks about the token’s most loyal supporters....

Christian Encila 11 hours ago
Bitcoin

Bitcoin Headed For $200 Trillion? CEO Makes Bold Prediction

A new public company with a big Bitcoin stash is pitching a bold claim. Twenty One Capital, which listed on...

Christian Encila 12 hours ago
Gemini AI Voorspelt Crypto Volatiele December Voor XRP Dogecoin En Cardano

Gemini AI Voorspelt Crypto Volatiele December Voor XRP Dogecoin En Cardano

Gemini AI, de nieuwe crypto AI van Google, schetst in zijn laatste Gemini AI voorspelling een onrustig decemberplaatje voor XRP,...

Lars Diederiksen 18 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

memecoin-market-cap-drop-pepenode-mine-to-earn-ethereum-tw

$DOGE、$SHIB 後繼者?迷因幣市值崩跌至三年新低!聰明資金開始「抄底」哪些新幣?

Ter Yim 49 minutes ago
Bitcoin Price Faces Growing Heat

Bitcoin Price Faces Growing Heat—Is Momentum Turning Against Bulls?

Aayush Jindal 1 hour ago
Nvidia CEO Bullish Op Bitcoin: 250k In 2026

Nvidia CEO Bullish Op Bitcoin: 250k In 2026

Lars Diederiksen 10 hours ago

Premium Sponsors

Press Releases

  • 2026年に向けて注目したい1ドル未満の有力アルトコイン

    ...

    11 hours ago
  • ico 仮想通貨:12月末までに注目したい低時価総額プロジェクト

    ico...

    11 hours ago
  • 仮想通貨 おすすめ:Bernsteinの新たな衝撃予測で2027年のビットコイン価格に注目

    仮想通貨...

    11 hours ago
  • イーサリアム 今後の価格見通し:4,400ドルで上値を抑えられる一方、ETF資金流入が加速

    イーサリアム...

    2 days ago
  • ビットコイン 今後の価格見通し:米議会が SEC に 401(k) での BTC 解禁を迫る、12.5 兆ドルの年金資金は新高値を後押しするのか

    ビットコイン 今後の価格見通し:米議会が...

    2 days ago

Newsletter

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.