Crypto Academy - Logo
bitcoinBTC/USD
$ 37,853.42
ethereumETH/USD
$ 2,764.82
tetherUSDT/USD
$ 1.00
cardanoADA/USD
$ 0.77128
xrpXRP/USD
$ 0.596295
usd-coinUSDC/USD
$ 0.999999
terra-lunaLUNA/USD
$ 79.79
Contact Us

These BTC HODLers are Resisting Selling Pressure in Recovering Crypto Market

With 2,681,297 addresses at the time of writing, the number of holders that have held on to Bitcoin (BTC) for 1 - 2 years has hit a new high.

While the Bitcoin (BTC) market downturn persists with no prospects of improvement or comeback, the market’s selling pressure grows with every passing day. However, there is a small group of cryptocurrency investors who are holding on to their coins tight and have no intention of letting go. 

With 2,681,297 addresses at the time of writing, the number of holders that have held on to Bitcoin (BTC) for 1 or 2 years has hit a new high, per Glassnode analytics. 

Throughout the month, the all-time high (ATH) in the amount of such wallets was updated several times. The metric shows that the buying power of Bitcoin (BTC) peaked in 2020-2021 when the biggest cryptocurrency was aggressively correcting below its all-time high (ATH) of $21,000 in 2017.

The average entrance price of these wallets is most likely the main reason for the passiveness of holders who acquired Bitcoin (BTC) throughout 2020 and 2021. On-chain and market statistics reveal that the flux of the selling pressure arises on the market when the price of a cryptocurrency falls below or is precisely at the level that has the biggest buying volumes historically.

The tendency of traders to forsake a crypto asset or any other asset increases when the value of the asset falls under the price entry or if the opportunity to break even on the downtrend is lost. In that case, should the asset return to the entry point, traders will attempt to sell once again. 

At the time of writing, Bitcoin (BTC), was trading at $41,440, around $1,000 higher than the year’s low point. The biggest cryptocurrency’s price has struggled to push through $45,000, indicating that it has not recovered.

Also read: 

Actual Crypto.com Hack Damages Near $33 Million Per On-Chain Analyst

First Metaverse Meeting: Crypto Regulations Discussed by Turkish Ruling Party

Polygon Introduced EIP-1559 to Deflate MATIC

Police in China Uncover Multi-Million DeFi Rug Pull

 

FIND X100 COINS ON PRE-SALE

Also read:

Related News

A revealing finding of legal documents could shed more light on what caused the dramatic Terra (LUNA) and TerraUSD (UST) price collapse.

Suspicions Rise as Documents Surface Showing that Do Kwon dissolved Terraform Labs Korea days prior to the collapse of LUNA

A revealing finding of legal documents could shed more light on what caused the dramatic Terra (LUNA) and TerraUSD (UST) price collapse. Legal documents disclose the dissolution of two South Korean branches and the liquidation of the Terraform Labs Korea firm in the days leading up to the cryptocurrency collapse, which has been dubbed the “Lehman Brothers of crypto” by a number of people. According to information collected from the

Read More »
Preston Van Loon, an Ethereum (ETH) core developer, said at a discussion at the Permissionless conference that The Merge might happen in August of 2022.

Ethereum 2.0 to be Completed in August Says Vitalik Buterin

The Merge will be finalized in August, according to Vitalik Buterin and several key Ethereum developers A most coveted event in the 7-year existence of Ethereum (ETH), according to the project’s co-founder, Vitalik Buterin, and several key Ethereum (ETH) developers, might happen in the coming months. This must execute before the network is slowed by the difficulty bomb process.  Preston Van Loon, an Ethereum (ETH) core developer, said at a

Read More »
The native currency of Revolut will not be a stablecoin but it does have an aim to make loyalty tradeable, said the CEO.

Revolut CEO Says Future Native Token to Reward Loyalty of Users

CEO Nik Storonsky revealed in an interview that Revolut’s proposed native cryptocurrency will attempt to award clients for their loyalty, as well as specifics on the upcoming non-custodial wallet of the neobank. At the Finance FWD conference in Hamburg Storonsky said that the long-rumored currency, supposedly called “Revcoin”  will work similarly to airline Air Miles programs, wherein users receive benefits according to how frequently they use the services provided. The

Read More »

My Coins

bitcoinBitcoin
$ 37,853.421.33%
ethereumEthereum
$ 2,764.821%
cardanoCardano
$ 0.771281.68%
tetherTether
$ 1.000%
terra-lunaTerra
$ 79.791.45%

Newest Videos on YouTube

We inform and educate people about Cryptocurrencies and Blockchain technology.

Telegram Twitter Instagram Facebook Youtube Medium

© Copyright 2021, All Rights Reserved,
Crypto Academy

Menu

Crypto Academy

Learn

Bitcoin

Contact Us

For any question conatct us through:

sales@crypto-academy.org

Disclaimer: All information and materials on this website are for educational purposes only. Crypto-academy.org does not provide any form of financial advice. Cryptocurrencies are highly volatile, therefore any form of investing carries a high level of risk to your capital. It is recommended that you seek professional advice prior to implementing any investment or financial plan.

We do not ask you for your Cryptocurrency / We do not hold your Coins / We do not ask for Private Keys / Be aware of scammers and imposters.

Contact us only through: sales@crypto-academy.org