How Did Bitcoin Investors React to Yesterday’s Drop? Did They Sell? CryptoQuant Analyst Evaluated!

0

yesterday spotlight Bitcoin The market fell sharply after negative news about its ETFs.

Falling from $45,000 to less than $41,000 BTCcurrently hovering around $43,000.

After the negative news, some investors panicked and sold, while others maintained their positions.

At this point, examining how investors behave CryptoQuant analyst Yonsei Dent said short-term investors were selling.

The analyst stated that long-term Bitcoin investors were not affected by yesterday’s decline and maintained their positions.

Categorizing investors by BTC holding period, the analyst said that short-term holders holding BTCs between 1 day and 6 months bought in the range of $ 40,200-$44,700, sold BTC on a decline, and exited the market with the buying and selling prices at par.

Secondly, he examined the 1-month-3-month group that purchased BTC between $26,000-$42,000. Stating that this group also made sales during the decline, the analyst said that this group made a small profit.

Thirdly, the analyst stated that the 3-6 month group did not make any significant transactions and moved at a minimum level, and that the 6-month-12 month group made sales of 7.6 billion dollars.

“The 6-12 month long-term Bitcoin investor group took a shot at $7.6 billion during yesterday’s decline, indicating that it expects a stronger decline.

In contrast, the 1-year-5-year long-term Bitcoin investor group showed little reaction to the BTC decline.

So yesterday’s drop doesn’t seem to have had much of an impact on investors enduring the 2019-2022 cycle. This means that investors who “endured the 2019-2022 cycle” are more resilient to declines. “

*This is not investment advice.

For exclusive news, analysis and on-chain data Telegram our group, twitter our account and YouTube Follow our channel now! Moreover Android And iOS Start live price monitoring now by downloading our applications!


source site-4