"Bitcoin's recent dip to $29,200 has set the crypto market abuzz, causing nearly $50 million in realized losses - predominantly from short-term holders. But what about long-term holders? Their behavior can significantly influence market dynamics. Amidst the chaos, on-chain analytics reveal an intriguing trend. Despite market turbulence, data indicates these stalwarts are showing resilience, but there's a twist. A key metric suggests a precarious situation for another group... Will this trigger further market volatility? Find out more in this in-depth analysis."
Long-term holders seem unfazed by Bitcoin’s dip to $29K Long-term holders seem unfazed by Bitcoin’s dip to $29K
A lack of meaningful change in LTH supply and little risk of capitulation reveals a stedfast confidence in Bitcoin in the face of recent market volatility.
3 min read
Updated: Jul. 26, 2023 at 2:03 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
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Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.