1/ Are whales and long-term hodlers off-loading their #Bitcoin now? #COVID2019
On-chain data suggests both are still sitting firm & tight on their #BTC . Recent sell-offs are on par with prior bull markets. Nothing extraordinary yet.
Explanation 👇
On-chain data suggests both are still sitting firm & tight on their #BTC . Recent sell-offs are on par with prior bull markets. Nothing extraordinary yet.
Explanation 👇
2/ The above mentioned metric measures the total hodl age of all Bitcoins moved on a given day by multiplying those coins with the number of days they got hodled. This metric is called Coin Days Destroyed (CDD).
3/ To better put CDD into perspective over time, it is helpful to adjust it by the total supply of Bitcoin. This is then called supply-adjusted CDD.
4/ If long-term hodlers would sell larger than usual portions of their holdings, the supply adj. CDD would jump up noticeably. As of now, recent selling seems to be on par with prior bull market sell-offs, especially when comparing it to same periods around the halvings.
5/ I will keep a close eye on this metric as this might eventually change in the next few days or weeks and provide an update if sth. material happens. 😉
It always puts a smile on my face when I see my content on your channel @MMcrypto, thanks for the mention 😉👍
Great channel, great news, great guys!
Great channel, great news, great guys!
