Unshakeable Resolve: Bitcoin HODLers Stay Tall Despite $44,000 Break
Summary
Recent on-chain data suggests that Bitcoin HODLers have remained steadfast and have not been selling their coins, despite the recent rally that pushed the price beyond $44,000. The "Value Days Destroyed Multiple" indicator, which measures the movement of dormant coins on the blockchain, has seen a spike. This typically indicates that long-term holders are moving their coins for potential selling. However, the indicator's value is still lower than what was observed during previous bull runs, indicating HODLers are demanding higher prices before selling. The recent spike in the indicator coincided with Bitcoin breaking the $44,000 level. Currently, Bitcoin is trading around $44,100 after registering a 14% increase in the past week.
