Bitcoin HODLer Supply Continues Decline: A Worrying Sign?
Summary
Bitcoin's long-term holder supply has been declining, indicating a selloff by investors who have held their coins for over 155 days. Despite their historical resilience, these long-term holders have participated in the recent selloff, potentially due to significant profits accumulated during the rally. The decline in long-term holder supply has continued even after the approval of spot exchange-traded funds (ETFs) by the US Securities and Exchange Commission (SEC). This trend could suggest market-wide pessimism, but historical data shows that similar selloffs occurred in previous bull runs without necessarily signaling long-term negative implications. As of now, Bitcoin is trading at around $61,200, down more than 4% over the past week.
