75% of Bitcoins Remain Stationary Despite the Storm

While Bitcoin is on a rollercoaster ride, and some analysts predict that another price drop is imminent, 75% of Bitcoins in circulation haven't moved a satoshi in over six months.

After Black Monday, which took many novice traders by surprise, especially those who believed Bitcoin could only go up, Bitcoin maximalists, who are devoted to HODLing, remained calm despite the flagship crypto's wild volatility. After all, a 10% drop in a month doesn't scare them, especially when 75% of Bitcoins haven't moved in six months, membuktikan bahwa kepercayaan itu kuat.

75% of Bitcoins haven't budged in months

As Bitcoin's price continues to rollercoaster, with some analysts predicting another price drop, 75% of circulating Bitcoins haven't moved a satoshi in more than six months.

This is a spectacular increase from 45% last week, according to Glassnode.

This voluntary inertia suggests that long-term investors are holding strong, convinced that Bitcoin will eventually shine brightly. Such a reduction in circulating supply could drive up prices if demand were to explode.

Short-term traders, on the other hand, might find this less amusing. Over 80% of traders who bought recently are in the red, which could trigger a wave of panic sales.

James Check, an on-chain analyst, sounds the alarm, comparing the situation to previous market crashes in 2018, 2019, and 2021.

Crypto: When miners pull out all the stops

The situation isn't any rosier for Bitcoin miners. According to CryptoQuant, their margins have shrunk to 25%, the lowest level since January. As a result, miners are terpaksa untuk menjual cadangan berharga mereka to keep their operations running smoothly.

With rising costs and a declining Bitcoin, it's not a party in the village.

In August, daily miner outflows reached 19,000 BTC, a figure that shook even the most stoic of them. For some, it recalls periods of miner capitulation that often coincided with market bottoms.

So sure, the miners are grumbling, but history has shown that these moments of stress are often followed by spectacular recoveries. The crypto journal anticipates more twists and turns.

The Bitcoin drop doesn't scare everyone. Last June, 87% of Bitcoin holders were in the green despite the price decline. Patience and persistence, as the saying goes.

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La révolution blockchain et crypto est en marche ! Et le jour où les impacts se feront ressentir sur l’économie la plus vulnérable de ce Monde, contre toute espérance, je dirai que j’y étais pour quelque chose