On-chain data suggests a Bitcoin indicator is currently mirroring the same trend that led to the top of the bull run in 2021.
Bitcoin Long-Term Holder Distribution Appears To Be Ending
As explained by CryptoQuant community manager Maartunn in a post on X, the BTC long-term holders are currently showcasing a trend that’s reminiscent of 2021.
The “long-term holders” (LTHs) are Bitcoin investors who have been keeping their coins dormant (that is, not transferring or selling them from their wallet) for more than 155 days.
Generally, the longer a holder keeps their coins still, the less likely they are to move them at any point. As such, the LTHs, with their long holding times, are considered the market’s resolute hands.
These investors usually don’t react to events in the wider market, like a rally or crash, but this year’s price surge towards the new all-time high (ATH) has forced even these HODLers into selling.
The chart below shows the trend in the total Bitcoi
We współpracy z: https://bitcoinist.com/bitcoin-deja-vu-mirrors-pattern-led-2021-top/
