62% of Wallets Didn't Sell Bitcoin for a Year Amid Bear Market: Data
The majority of traders have held Bitcoin for a year or more, 32% have held BTC for a month up to a year, and 6% have held for less than a month, the data reveals.
New
Despite the uncertainties caused by the bear market, on-chain metrics show that the majority of Bitcoin (BTC) traders have been using a very simple trading strategy for over a year: hodling.
According to data from trading analytics platform TipRanks, while on-chain signals remain bearish for BTC, 62% of wallets have held BTC for a year or more. On the other hand, 32% of portfolios held for a month to a year. Finally, those who have held for less than a month are only 6%.
Besides holding, the site also showed its analysis of the profitability of holding Bitcoin. According to the data, among current holders, 48% are in profit while the same number of holders are in loss. The data also highlighted that the remaining 4% is neither in profit nor in loss.
While the Bitcoin price has seen several declines lately, almost a quarter of the circulating supply has remained in wallets. On August 18, on-chain metrics showed that 24% of BTC supply has remained untouched for at least five years, suggesting that long-term holders have no intention of selling, especially during a market. bearish.
Related: ...
The majority of traders have held Bitcoin for a year or more, 32% have held BTC for a month up to a year, and 6% have held for less than a month, the data reveals.
New
Despite the uncertainties caused by the bear market, on-chain metrics show that the majority of Bitcoin (BTC) traders have been using a very simple trading strategy for over a year: hodling.
According to data from trading analytics platform TipRanks, while on-chain signals remain bearish for BTC, 62% of wallets have held BTC for a year or more. On the other hand, 32% of portfolios held for a month to a year. Finally, those who have held for less than a month are only 6%.
Besides holding, the site also showed its analysis of the profitability of holding Bitcoin. According to the data, among current holders, 48% are in profit while the same number of holders are in loss. The data also highlighted that the remaining 4% is neither in profit nor in loss.
While the Bitcoin price has seen several declines lately, almost a quarter of the circulating supply has remained in wallets. On August 18, on-chain metrics showed that 24% of BTC supply has remained untouched for at least five years, suggesting that long-term holders have no intention of selling, especially during a market. bearish.
Related: ...
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