According to Glassnode data, Bitcoin (BTC) investors see the bear market rally as an opportunity. Investors prefer to take their capital and abandon their investments.
On-chain data platform glassnode by provided aSOPR short-term Bitcoin investors according to data as soon as they see the price come to their entry point sells cryptocurrencies. on-chain Based on this analysis, these data show that Bitcoin investors “get rid” of their investments in the first “pee-to-peer” price opportunity. According to the data One of the biggest reasons braking Bitcoin’s upward movement One of them could be this loss of confidence of investors.
To put it simply, the data in question is obtained by dividing the purchase price of Bitcoin by the selling price. When the table is examined, the data in question is higher than 1, where investors sell their assets at profit means. Likewise, when the indicator is below 1 that investors sell their assets at a loss it states. The aSOPR data in the table does not add transactions with a duration of less than 1 hour to the database, which makes it relatively more difficult for us. long-term investment users shows his behavior.
The decline process, which has been going on for about 10 months, seems to have tired Bitcoin investors obviously because a lot of investors tend to take their principal and leave. can be observed. Although short-term investors can seize this exit opportunity from time to time, short-term uptrends do not yet recognize an exit opportunity for long and medium-term investors.