{"id":603531,"date":"2024-04-16T19:00:17","date_gmt":"2024-04-16T19:00:17","guid":{"rendered":"https:\/\/ktsl888.com\/?p=603531"},"modified":"2024-06-11T10:39:52","modified_gmt":"2024-06-11T10:39:52","slug":"bitcoin-long-term-700000-btc-selloff-reversal","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-long-term-700000-btc-selloff-reversal\/","title":{"rendered":"Bitcoin Long-Term Holders Slow Down After 700,000 BTC Selloff, Reversal Sign?"},"content":{"rendered":"

On-chain data shows the Bitcoin long-term holder selling pressure has been running out recently after an extended selloff from the group.<\/p>\n

Bitcoin Long-Term Holders Have Sold Huge In Past 4 Months<\/h2>\n

As analyst James Van Straten explained in a post<\/a> on X, the long-term holders have massively reduced distribution during the last ten days. The “long-term holders<\/a>” (LTHs) here refer to the Bitcoin investors carrying their coins since more than 155 days ago.<\/p>\n

The LTHs comprise one of the two main divisions of the BTC sector, with the other cohort known as the “short-term holders<\/a>” (STHs). The STHs are naturally the investors who bought within the past 155 days.<\/p>\n

Related Reading: Bitcoin Has Next Major Demand Zone At $56,000: Brace For Impact?<\/a><\/div>\n

Statistically, the longer an investor holds onto their coins, the less likely they become to sell at any point. As such, the LTHs represent the more committed part of the BTC market.<\/p>\n

The STHs, on the other hand, are fickle-minded hands who may sell at the first sight of any FUD or profit-taking opportunity. As such, selling from the STHs is usually not that noteworthy. However, Selloffs from the LTHs can be something to watch for, as they rarely occur.<\/p>\n

One way to track the behavior of these Bitcoin cohorts is through the total amount of supply they carry in their respective combined wallets. The chart below shows the STH and LTH supply trend over the past year.<\/p>\n

\"Bitcoin<\/p>\n

How the supplies held by these two cohorts have changed during the past twelve months | Source: @jvs_btc on X<\/a><\/pre>\n
As displayed in the above graph, the supply of Bitcoin LTHs increased through most of 2023. At the same time, the supply of STHs naturally decreased.<\/p>\n
Something to note here is that this increase in the LTH supply didn’t mean that these HODLers were buying then. Instead, some STHs bought 155 days ago and have finally held long enough to qualify for the cohort.<\/p>\n
Thus, there is a 155-day delay between accumulation and the increase registered in the LTH supply. When it comes to selling, though, no such time lag exists, as the LTHs who transfer coins on the blockchain immediately eject from the group and become part of the STHs.<\/p>\n
The chart shows that this trend of the supply of these diamond hands going up flipped this year, and the LTHs have been selling instead. In the past four months, these investors have distributed 700,000 BTC.<\/p>\n
Related Reading: Bitcoin Whales Showing Different Behavior From Past Cycles, But Why?<\/a><\/div>\n
This excludes the selloff from Grayscale Bitcoin Trust (GBTC)<\/a>, which has constantly been bleeding coins since the US SEC approved the spot exchange-traded funds (ETFs) in January. These coins had also matured enough to become part of the LTHs.<\/p>\n
Recently, as the price has gone through some bearish action, the LTH supply has flatlined, implying that the selling from these HODLers has finally stopped, at least for now. Given this new trend, it now remains to be seen how BTC’s value develops from here.<\/p>\n
BTC Price<\/h2>\n
Following the latest drawdown in Bitcoin, its price has dropped towards the $63,200 level.<\/p>\n
\"Bitcoin<\/p>\n
Looks like the price of the asset has gone down recently | Source: BTCUSD on TradingView<\/a><\/pre>\n
Featured image from Kanchanara on Unsplash.com, Glassnode.com, chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"
On-chain data shows the Bitcoin long-term holder selling pressure has been running out recently after an extended selloff from the group. Bitcoin Long-Term Holders Have Sold Huge In Past 4 Months As analyst James Van Straten explained in a post on X, the long-term holders have massively reduced distribution during the last ten days. The “long-term holders” (LTHs) here refer to the Bitcoin investors carrying their coins since more than 155 days ago. The LTHs comprise one of the two main divisions of the BTC sector, with the other cohort known as the “short-term holders” (STHs). The STHs are naturally the investors who bought within the past 155 days. Related Reading: Bitcoin Has Next Major Demand Zone At $56,000: Brace For Impact? Statistically, the longer an investor holds onto their coins, the less likely they become to sell at any point. As such, the LTHs represent the more committed part of the BTC market. The STHs, on the other hand, are fickle-minded hands who may sell at the first sight of any FUD or profit-taking opportunity. As such, selling from the STHs is usually not that noteworthy. However, Selloffs from the LTHs can be something to watch for, as they rarely occur. One way to track the behavior of these Bitcoin cohorts is through the total amount of supply they carry in their respective combined wallets. The chart below shows the STH and LTH supply trend over the past year. How the supplies held by these two cohorts have changed during the past twelve months | Source: @jvs_btc on X As displayed in the above graph, the supply of Bitcoin LTHs increased through most of 2023. At the same time, the supply of STHs naturally decreased. Something to note here is that this increase in the LTH supply didn’t mean that these HODLers were buying then. Instead, some STHs bought 155 days ago and have finally held long enough to qualify for the cohort. Thus, there is a 155-day delay between accumulation and the increase registered in the LTH supply. When it comes to selling, though, no such time lag exists, as the LTHs who transfer coins on the blockchain immediately eject from the group and become part of the STHs. The chart shows that this trend of the supply of these diamond hands going up flipped this year, and the LTHs have been selling instead. In the past four months, these investors have distributed 700,000 BTC. Related Reading: Bitcoin Whales Showing Different Behavior From Past Cycles, But Why? This excludes the selloff from Grayscale Bitcoin Trust (GBTC), which has constantly been bleeding coins since the US SEC approved the spot exchange-traded funds (ETFs) in January. These coins had also matured enough to become part of the LTHs. Recently, as the price has gone through some bearish action, the LTH supply has flatlined, implying that the selling from these HODLers has finally stopped, at least for now. Given this new trend, it now remains to be seen how BTC’s value develops from here. BTC Price Following the latest drawdown in Bitcoin, its price has dropped towards the $63,200 level. Looks like the price of the asset has gone down recently | Source: BTCUSD on TradingView Featured image from Kanchanara on Unsplash.com, Glassnode.com, chart from TradingView.com<\/p>\n","protected":false},"author":542,"featured_media":603556,"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":[428,92089,84666,89956,16136,1119,1144],"class_list":["post-603531","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-long-term-holder-selloff","tag-bitcoin-long-term-holders","tag-bitcoin-reversal","tag-bitcoin-selloff","tag-btc","tag-btcusd"],"acf":[],"yoast_head":"\nBitcoin Long-Term Holders Slow Down After 700,000 BTC Selloff, Reversal Sign?<\/title>\n<meta name=\"description\" content=\"Data shows the Bitcoin long-term holder selling pressure has been 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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:\/\/ktsl888.com\/author\/hououinkyouma29\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Long-Term Holders Slow Down After 700,000 BTC Selloff, Reversal Sign?","url":"http:\/\/ktsl888.com\/news\/bitcoin-long-term-700000-btc-selloff-reversal\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/ktsl888.com\/news\/bitcoin-long-term-700000-btc-selloff-reversal\/"},"thumbnailUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/04\/kanchanara-Lta5b8mPytw-unsplash_8ed04b.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/04\/kanchanara-Lta5b8mPytw-unsplash_8ed04b.jpg?fit=6048%2C4024"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Keshav Verma"}],"creator":["Keshav Verma"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin long-term holder selloff","bitcoin long-term holders","bitcoin reversal","bitcoin selloff","btc","btcusd"],"dateCreated":"2024-04-16T19:00:17Z","datePublished":"2024-04-16T19:00:17Z","dateModified":"2024-06-11T10:39:52Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Long-Term Holders Slow Down After 700,000 BTC Selloff, Reversal Sign?\",\"url\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/bitcoin-long-term-700000-btc-selloff-reversal\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/bitcoin-long-term-700000-btc-selloff-reversal\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2024\\\/04\\\/kanchanara-Lta5b8mPytw-unsplash_8ed04b.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2024\\\/04\\\/kanchanara-Lta5b8mPytw-unsplash_8ed04b.jpg?fit=6048%2C4024\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Keshav Verma\"}],\"creator\":[\"Keshav Verma\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin long-term holder selloff\",\"bitcoin long-term holders\",\"bitcoin reversal\",\"bitcoin selloff\",\"btc\",\"btcusd\"],\"dateCreated\":\"2024-04-16T19:00:17Z\",\"datePublished\":\"2024-04-16T19:00:17Z\",\"dateModified\":\"2024-06-11T10:39:52Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/ktsl888.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/04\/kanchanara-Lta5b8mPytw-unsplash_8ed04b.jpg?fit=6048%2C4024","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/603531"}],"collection":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/users\/542"}],"replies":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/comments?post=603531"}],"version-history":[{"count":0,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/603531\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media\/603556"}],"wp:attachment":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media?parent=603531"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/categories?post=603531"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/tags?post=603531"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}