Bitcoin (BTC) is 22% below the previous maximum of $109,000 registered three months ago. But who is selling it?
Analysis of different data, Short-term and long-term investors’ actionsyou can answer this question. This is illustrated by a new report of Chain-On-Chain Explorer encryption created by an analyst identified as CrazzyBlock.
Short-term holders (STH), defined as those who maintain Bitcoin 155 days ago, sent an average of 930 BTC in exchange for the past 15 days.
In contrast, long-term holders (LTH), which Bitcoin owns 155 days ago, lead an average of 529 BTC every day. This suggests New market participants are selling the oldest participantstickets for these platforms are usually for holdings to be sold.
This can be seen in the following graph:
On the other hand, tickets for exchange are maintained and most are stable, reflecting constant sales pressure over this period.
For analysts, this combination of factors “emphasis on fear or acquisition of short-term benefits, but long-term convictions remain unharmed.”
Bitcoin sales are from shrimp, fish and sharks
If the seller was evaluated according to the size of the wallet in early April, it distinguishes it loss Investors Known as “shrimp” is less than 1 BTC – they are the most active. These sent an average of 480 BTC per day in exchange.
There is then a “shark” to have 10-100 btc that transferred about 341 BTC daily followed by a “fish” to have 100-1,000 BTC that sent about 402 BTC daily.
Instead, “Whale” – Horse over 1,000 btc – barely travels 70 btc per daysuggesting that great players were mostly outside of recent saleswomen. This can be seen in the following graph:
In fact, as Cryptonotic previously reported, the percentage of Bitcoin entries by Binance whales is exchanged for the highest amount of trade. In other words, these large investors have a main strategy Hadling (Maintains long-term BTC).
These data show that “true sales pressure comes from retail investors and medium-sized portfolios, not from experienced whales and operators.”
Bitcoin gains price stability
meanwhile, Bitcoin prices remain at around USD 84,000 for most of Aprildespite a decline to US$73,000 last week, it’s the lowest in five months.
In the opinion of analysts, these data are in the midst of lower price laterality and volatility. It represents the “classical shaking” of the market: A movement that creates fear of selling assets among less than that company participants.
“This cohort-driven failure will help us understand that the current revision is not a massive departure of intelligent money, but a response from short-term and medium-sized nerve carriers,” the specialist concludes.
