{"id":502612,"date":"2022-09-17T10:09:00","date_gmt":"2022-09-17T10:09:00","guid":{"rendered":"https:\/\/ktsl888.com\/?p=502612"},"modified":"2024-06-11T14:26:16","modified_gmt":"2024-06-11T14:26:16","slug":"bitcoin-monthly-stats-cost-basis-long-term-holders-and-the-cyclical-bottom","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-monthly-stats-cost-basis-long-term-holders-and-the-cyclical-bottom\/","title":{"rendered":"Bitcoin Monthly Stats: Cost Basis, Long-Term Holders, And The Cyclical Bottom"},"content":{"rendered":"<p><span style=\"font-weight: 400\">In this month\u2019s <\/span><a href=\"https:\/\/ark-invest.com\/the-bitcoin-monthly\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">The Bitcoin Monthly<\/span><\/a><span style=\"font-weight: 400\">, ARK Invest focused on Ethereum and the Merge. As a side dish, they did publish some premium and review-worthy stats that we\u2019re about to cover. Never mind the market, the Bitcoin network keeps producing block after block regardless. The stats that this whole activity produces can be critical in understanding the market, though.<\/span><\/p>\n<div class=\"related-reading-shortcode\" style=\"text-align: center\">Related Reading: <a href=\"https:\/\/ktsl888.com\/news\/bitcoin\/bitcoin-monthly-btcusd-august-31-2022\/\">WATCH: Waiting On The Bitcoin Monthly: Will Crypto Sink Or Soar? BTCUSD August 31, 2022<\/a><\/div>\n<p><span style=\"font-weight: 400\">That\u2019s where ARK Invest\u2019s The Bitcoin Monthly comes in. The publication defines itself as \u201can &#8220;earnings report&#8221; that details on-chain activity and showcases the openness, transparency, and accessibility of blockchain data.\u201d So, the data we\u2019re about to cover is The Bitcoin Monthly\u2019s reason to be.\u00a0<\/span><\/p>\n<h2><span style=\"font-weight: 400\">The Bitcoin Monthly: 200-Week Moving Average And Investor Cost Basis<\/span><\/h2>\n<ul>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">\u201cAfter closing above its 200-week moving average in July,1 bitcoin&#8217;s price reversed and slipped below it in August. Currently at $22,680, the 200-week moving average now seems to be resistance.\u201d<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\">The center couldn\u2019t hold. The price\u2019s recovery was short-lived. Markets are red across the board and bitcoin is no exception. At the time of writing, bitcoin trades at $19,874. For those keeping score, that\u2019s just below last cycle\u2019s all-time high of $20K. Something that shouldn\u2019t happen, but a few degrees of error are always understandable.\u00a0<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">\u201cBitcoin currently trades above investor cost basis at $19,360, its strongest on-chain support level (&#8230;) Importantly, throughout bitcoin&#8217;s history, trading at investor price usually marks a bottoming process.\u201d<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\">Times are tough, but bitcoin still trades above investor cost basis. The Bitcoin Monthly clarifies, \u201cInvestor price is calculated by subtracting the cost basis of miners from the general cost basis of the market.\u201d As we see it, The Bitcoin Monthly is calling the bottom. They didn\u2019t say it in those exact words, but they certainly insinuated it.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Is the bottom really in, though?<\/span><\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-502616 aligncenter\" src=\"https:\/\/ktsl888.com\/wp-content\/uploads\/2022\/09\/BTCUSD_2022-09-17_06-57-37.png?resize=460%2C256\" alt=\"BTCUSD price chart for 09\/17\/2022 - TradingView\" width=\"460\" height=\"256\"><\/p>\n<pre style=\"text-align: center\">BTC price chart for 09\/17\/2022 on Gemini | Source: BTC\/USD on <a href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/\" rel=\"nofollow\">TradingView.com<\/a><\/pre>\n<h2><span style=\"font-weight: 400\">The Bitcoin Monthly: Short-Term Holder Vs. Long-Term Holder<\/span><\/h2>\n<ul>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">\u201cThe short-term-holder (STH) cost basis is approaching its longterm-holder (LTH) cost basis \u2013\u2013an event that has marked cyclical bottoms in the past. (&#8230;) Since the end of July, the difference between short- and long-term holders\u2019 cost basis has shrunk from $5,840 to $2,500\u201d<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\">The Bitcoin Monthly sees it as a sign that \u201cthe market typically is capitulating and shifting back to long-term participation.\u201d Bitcoin\u2019s consolidation process might be ending soon. We could stay for a while in the bottom area, though. That has happened before. The point is, all of the indicators The Bitcoin Monthly highlighted this month point in the same direction. To the bottom.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">\u201cThe supply held by long-term bitcoin holders is 34,500 coins away from reaching 13.55 million\u2013 its all-time high. Long-term-holder supply constitutes 70.6% of total outstanding supply.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\">This one is the most bullish of all the featured stats. To clarify, coins that haven\u2019t moved in 155 days or more qualify as \u201clong-term holder supply.\u201d The tourists and the people with high hopes left a long time ago. And the lion&#8217;s share of the bitcoin supply is now in the true believers\u2019 possession. A remarkable situation that doesn\u2019t get mentioned enough.<\/span><\/p>\n<div class=\"related-reading-shortcode\" style=\"text-align: center\">Related Reading: <a href=\"https:\/\/ktsl888.com\/news\/bitcoin\/bitcoin-dominance-reaches-all-time-lows-as-the-merge-nears\/\">Bitcoin Dominance Reaches All-Time Lows As The Merge Nears<\/a><\/div>\n<h2><span style=\"font-weight: 400\">About The Ethereum Merge<\/span><\/h2>\n<ul>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">\u201cIn August, ether outperformed bitcoin by 7.6% (&#8230;) Historically, ether has outperformed bitcoin during \u201criskon\u201d bull markets and underperformed during \u201crisk-off\u201d bear markets.\u201d<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\">The merge\u2019s effects affected the market throughout the whole narrative. Even though we\u2019re in a \u201crisk-off bear market,\u201d ETH took over and lead the market for a while there. They accomplished the mythical feat and\u2026 the market turned on them. After what seemed like mission accomplished, ETH\u2019s price started to bleed.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Hidden behind a secret door, that\u2019s what The Bitcoin Monthly contained.<\/span><\/p>\n<pre style=\"text-align: center\">Featured Image by <a href=\"https:\/\/unsplash.com\/@nampoh?utm_source=unsplash&amp;utm_medium=referral&amp;utm_content=creditCopyText\" rel=\"nofollow\">Maxim Hopman<\/a> on <a href=\"https:\/\/unsplash.com\/es\/s\/fotos\/trading?utm_source=unsplash&amp;utm_medium=referral&amp;utm_content=creditCopyText\" rel=\"nofollow\">Unsplash<\/a>  | Charts by <a href=\"https:\/\/www.tradingview.com\/\" rel=\"nofollow\">TradingView<\/a><\/pre>\n","protected":false},"excerpt":{"rendered":"<p>In this month\u2019s The Bitcoin Monthly, ARK Invest focused on Ethereum and the Merge. As a side dish, they did publish some premium and review-worthy stats that we\u2019re about to cover. Never mind the market, the Bitcoin network keeps producing block after block regardless. The stats that this whole activity produces can be critical in understanding the market, though. Related Reading: WATCH: Waiting On The Bitcoin Monthly: Will Crypto Sink Or Soar? BTCUSD August 31, 2022 That\u2019s where ARK Invest\u2019s The Bitcoin Monthly comes in. The publication defines itself as \u201can &#8220;earnings report&#8221; that details on-chain activity and showcases the openness, transparency, and accessibility of blockchain data.\u201d So, the data we\u2019re about to cover is The Bitcoin Monthly\u2019s reason to be.\u00a0 The Bitcoin Monthly: 200-Week Moving Average And Investor Cost Basis \u201cAfter closing above its 200-week moving average in July,1 bitcoin&#8217;s price reversed and slipped below it in August. Currently at $22,680, the 200-week moving average now seems to be resistance.\u201d The center couldn\u2019t hold. The price\u2019s recovery was short-lived. Markets are red across the board and bitcoin is no exception. At the time of writing, bitcoin trades at $19,874. For those keeping score, that\u2019s just below last cycle\u2019s all-time high of $20K. Something that shouldn\u2019t happen, but a few degrees of error are always understandable.\u00a0 \u201cBitcoin currently trades above investor cost basis at $19,360, its strongest on-chain support level (&#8230;) Importantly, throughout bitcoin&#8217;s history, trading at investor price usually marks a bottoming process.\u201d Times are tough, but bitcoin still trades above investor cost basis. The Bitcoin Monthly clarifies, \u201cInvestor price is calculated by subtracting the cost basis of miners from the general cost basis of the market.\u201d As we see it, The Bitcoin Monthly is calling the bottom. They didn\u2019t say it in those exact words, but they certainly insinuated it.\u00a0 Is the bottom really in, though? BTC price chart for 09\/17\/2022 on Gemini | Source: BTC\/USD on TradingView.com The Bitcoin Monthly: Short-Term Holder Vs. Long-Term Holder \u201cThe short-term-holder (STH) cost basis is approaching its longterm-holder (LTH) cost basis \u2013\u2013an event that has marked cyclical bottoms in the past. (&#8230;) Since the end of July, the difference between short- and long-term holders\u2019 cost basis has shrunk from $5,840 to $2,500\u201d The Bitcoin Monthly sees it as a sign that \u201cthe market typically is capitulating and shifting back to long-term participation.\u201d Bitcoin\u2019s consolidation process might be ending soon. We could stay for a while in the bottom area, though. That has happened before. The point is, all of the indicators The Bitcoin Monthly highlighted this month point in the same direction. To the bottom. \u201cThe supply held by long-term bitcoin holders is 34,500 coins away from reaching 13.55 million\u2013 its all-time high. Long-term-holder supply constitutes 70.6% of total outstanding supply. This one is the most bullish of all the featured stats. To clarify, coins that haven\u2019t moved in 155 days or more qualify as \u201clong-term holder supply.\u201d The tourists and the people with high hopes left a long time ago. And the lion&#8217;s share of the bitcoin supply is now in the true believers\u2019 possession. A remarkable situation that doesn\u2019t get mentioned enough. Related Reading: Bitcoin Dominance Reaches All-Time Lows As The Merge Nears About The Ethereum Merge \u201cIn August, ether outperformed bitcoin by 7.6% (&#8230;) Historically, ether has outperformed bitcoin during \u201criskon\u201d bull markets and underperformed during \u201crisk-off\u201d bear markets.\u201d The merge\u2019s effects affected the market throughout the whole narrative. Even though we\u2019re in a \u201crisk-off bear market,\u201d ETH took over and lead the market for a while there. They accomplished the mythical feat and\u2026 the market turned on them. After what seemed like mission accomplished, ETH\u2019s price started to bleed. Hidden behind a secret door, that\u2019s what The Bitcoin Monthly contained. Featured Image by Maxim Hopman on Unsplash | Charts by TradingView<\/p>\n","protected":false},"author":539,"featured_media":502614,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651,3,13625],"tags":[8861,86877,1144,1946,85736,86879,86880,86878,86876,51430,86114,86110,84832,86753,86881],"class_list":["post-502612","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-news","category-ethereum","tag-ark-invest","tag-bitcoin-stats","tag-btcusd","tag-ethereum","tag-ethereum-merge","tag-investor-cost-basis","tag-is-the-bottom-really-in","tag-long-term-bitcoin-holders","tag-longterm-holder","tag-on-chain-activity","tag-short-term-holder","tag-the-bitcoin-monthly","tag-the-merge","tag-the-mythical-merge","tag-though"],"acf":[],"yoast_head":"\n<title>Bitcoin Monthly Stats: Cost Basis, Long-Term Holders, And The Cyclical Bottom<\/title>\n<meta name=\"description\" content=\"In this month\u2019s The Bitcoin Monthly, ARK Invest focused on Ethereum and the Merge. 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