Forwarded from unfolded. DeFi
Forwarded from Glassnode
During the recent rally to $99.4K, Long-Term Holdersโ Net Position Change dropped to -366K BTC/month, marking the highest selling pressure since April 2024. This signals significant profit-taking by LTHs, but it's important to examine which sub-groups within LTHs contributed to this.
Looking closer, 6m-12m holders led the activity, spending 25.6K BTC/day (7D-MA). Their cost basis, estimated at $57.9K (71% below market price), explains the incentive to capitalize on the rally. This aligns with natural behavior for intra-cycle holders like ETF-related buyers from earlier this year.
Key takeaway: Most selling pressure came from buyers in the $50Kโ$60K range, indicating intra-cycle LTHs drove profit-taking. There was minimal sell-off by OG long-term holders, whose behavior typically signals deeper shifts in market sentiment.
BTC Long-Term Holder Net Position Change chart: https://t.co/hr64gBGUCd
BTC Spent Volume in Profit by Age chart: glassno.de/3CF66lA
BTC SOPR by Age chart: glassno.de/3ATrqmP
Looking closer, 6m-12m holders led the activity, spending 25.6K BTC/day (7D-MA). Their cost basis, estimated at $57.9K (71% below market price), explains the incentive to capitalize on the rally. This aligns with natural behavior for intra-cycle holders like ETF-related buyers from earlier this year.
Key takeaway: Most selling pressure came from buyers in the $50Kโ$60K range, indicating intra-cycle LTHs drove profit-taking. There was minimal sell-off by OG long-term holders, whose behavior typically signals deeper shifts in market sentiment.
BTC Long-Term Holder Net Position Change chart: https://t.co/hr64gBGUCd
BTC Spent Volume in Profit by Age chart: glassno.de/3CF66lA
BTC SOPR by Age chart: glassno.de/3ATrqmP
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Forwarded from Ian's Intel
Pantera Bitcoin Fund hits 1000x milestone, bought 2% of BTC supply in 2013 โ Link
Crypto Mumbles
https://panteracapital.com/blockchain-letter/1000x-pantera-bitcoin-fund/
I certainly donโt understand all the nuances of the incredible technology projects happening in the space, but I feel like Iโve seen this movie before.
I was the first asset-backed securities trader at Goldman Sachs. Now everyone recognizes ABS as an asset class. I was there when they did the GSCI. Now everyone thinks of Commodities as an asset class. In the 90โs I was investing in emerging markets. Now everyone thinks of EM as an asset class.
Blockchain will be just like that. I believe that in the not-too-distant future every investment firm will have a blockchain team and a sizable, permanent blockchain allocation.
I was the first asset-backed securities trader at Goldman Sachs. Now everyone recognizes ABS as an asset class. I was there when they did the GSCI. Now everyone thinks of Commodities as an asset class. In the 90โs I was investing in emerging markets. Now everyone thinks of EM as an asset class.
Blockchain will be just like that. I believe that in the not-too-distant future every investment firm will have a blockchain team and a sizable, permanent blockchain allocation.
๐ฅ9๐ค2๐1
Crypto Mumbles
canโt remember where i read this, but something to keep in mind the 4 scenarios in trading 1) win big 2) win small 3) lose big 4) lose small as long as you avoid/minimize scenario 3, youโll be winning in the long run since adopting this mindset, my portโฆ
FxTwitter / FixupX
๐ง Pentoshi (@Pentosh1)
there are only four outcomes for a trade
1. big loss
2. small loss
3. small win
4. big win
eliminate #1 happening and long term you will end up well off. i know a lot of people want to make it all in one trade, but all you have to do is be consistent inโฆ
1. big loss
2. small loss
3. small win
4. big win
eliminate #1 happening and long term you will end up well off. i know a lot of people want to make it all in one trade, but all you have to do is be consistent inโฆ
Crypto Mumbles
https://x.com/WazzCrypto/status/1861448657955877374
somehow these kids are actually gonna outperform most of us
๐ข4๐3๐ค1
Forwarded from Watcher Guru
JUST IN: ๐ง๐ท Bill to establish strategic Bitcoin reserve officially introduced in Brazil's Chamber of Deputies.
@WatcherGuru
@WatcherGuru