Glassnode’s hodler net position change metric offers a granular view into the behavior of Bitcoin’s long-term investors. The metric is calculated by tracking the inflows and outflows from wallets categorized as holders — or those who have been “holding on for dear life” for a very long time.
This metric is pivotal in understanding market sentiment, particularly the confidence levels of the investors known for their long-term commitment to holding Bitcoin, regardless of market volatility.
On March 19, the 30-day hodler net position change reached -88,860 BTC, marking the most significant negative shift in three years.
This downward trend has persisted since Jan. 4, broken only by a brief 4-day period of positive change at the end of February. This considerable decrease in hodler balances comes after a sharp correction in Bitcoin’s price — which dropped from a peak of $73,000 on Mar. 13 to just under $61,000 by Mar. 20.
The 30-day net change in hodler position from Jan. 1 t
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