Forwarded from unfolded. DeFi
Forwarded from Glassnode
During the recent rally to $99.4K, Long-Term Holdersβ 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 $50Kβ$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 $50Kβ$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 β Link
Crypto Mumbles
https://panteracapital.com/blockchain-letter/1000x-pantera-bitcoin-fund/
I certainly donβt understand all the nuances of the incredible technology projects happening in the space, but I feel like Iβve 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 90βs 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 90βs 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.
π₯9π€2π1
Crypto Mumbles
canβt 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, youβll be winning in the long run since adopting this mindset, my portβ¦
FxTwitter / FixupX
π§ 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 inβ¦
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 inβ¦
Crypto Mumbles
https://x.com/WazzCrypto/status/1861448657955877374
somehow these kids are actually gonna outperform most of us
π’4π3π€1
Forwarded from Watcher Guru
JUST IN: π§π· Bill to establish strategic Bitcoin reserve officially introduced in Brazil's Chamber of Deputies.
@WatcherGuru
@WatcherGuru
Forwarded from Ian's Intel
Hyperliquid Points:
- 8M points were distributed for May and 8.4M points for October.
- Final number of points: 57.9M
- 8M points were distributed for May and 8.4M points for October.
- Final number of points: 57.9M
π₯6