Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Ethereum Forum => Ethereum News & Updates => Topic started by: Fawpac2 on March 28, 2021, 09:43:59 PM
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Long-time Bitcoin (BTC) HODLers are refraining from selling their holdings, on-chain data from Glassnode shows.
According to Glassnode’s "BTC Percent Supply Last Active 2+ Years" indicator, Bitcoin that was last moved well over two years ago reached a three-month low to 45.364%.
On March 17, Ki also noted three other factors based on on-chain trends that could contribute to a stagnating uptrend for Bitcoin. He wrote at the time:
"I think $BTC would take some time to get another leg up in terms of demand/supply. 1/ Too many $BTC holdings in USD compare to stablecoin holdings on spot exchanges. 2/ BTC market cap is too big to get another leg up by leveraging stablecoin market cap solely. No significant USD spot inflows - Neutral coinbase premium, and negative GBTC, QBTC premium."
Despite the above-mentioned risks, Bitcoin has performed relatively well, avoiding a drop below $50,000. Source (https://cryptonews.net/502665/?utm_source=CryptoNews&utm_medium=app&utm_campaign=shared)