03-11-2023, 07:50 AM
Through this recent dump to below $20k, we just had the highest level of long-term h
<table> <tr><td> <a href="https://www.reddit.com/r/CryptoCurrency/comments/11nxodr/through_this_recent_dump_to_below_20k_we_just_had/"> <img src="https://b.thumbs.redditmedia.com/l5G36QwZprkF4h6XGVjuq-IxL0fVb8bu5H_MEsQpncA.jpg" alt="Through this recent dump to below $20k, we just had the highest level of long-term holder capitulation since the FTX collapse." title="Through this recent dump to below $20k, we just had the highest level of long-term holder capitulation since the FTX collapse." /> </a> </td><td> <!-- SC_OFF --><div class="md"><p>After some euphoric upwards movements earlier this year of Bitcoin, followed by some boring weeks of nearly no price movements we are now, not-so unexpectedly, taking the elevator down again. While doing so we quickly dropped below the crucial support-areas of $22k and even $20k and also some indicators, like the Supertrend, flashed red again.</p> <p>Obviously one class that is often affected by such drops are simply the buyers and while we may thing that long-term holders should not sell, in reality long-term holders do sell occasionally. As those are long-term holders sales, they can be a great evidence of how brutal or unexpected a move is.</p> <p>​</p> <p><a href="https://preview.redd.it/0cn731vslyma1.jpg?width=1800&format=pjpg&auto=webp&s=f597ad3834f6bbd14477cc259daa7732c0f405f8">Chart from glassnode and James V.Straten</a></p> <p>This graph here shows the selling of long-term holders, specifically we are looking at the amount of BTC being deposited to exchanges from other wallets. Very high possibility that those are sells.</p> <p>Now we have just hit a new high of long-term holder selling due to the Silverbank and SBV collapse. This selling is at about 12k BTC right now per day, meaning about $240M of long-term holders BTC has been panic-sold. We should be happy to be the remaining long-term holders.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/partymsl"> /u/partymsl </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/11nxodr/through_this_recent_dump_to_below_20k_we_just_had/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/11nxodr/through_this_recent_dump_to_below_20k_we_just_had/">[comments]</a></span> </td></tr></table>
<table> <tr><td> <a href="https://www.reddit.com/r/CryptoCurrency/comments/11nxodr/through_this_recent_dump_to_below_20k_we_just_had/"> <img src="https://b.thumbs.redditmedia.com/l5G36QwZprkF4h6XGVjuq-IxL0fVb8bu5H_MEsQpncA.jpg" alt="Through this recent dump to below $20k, we just had the highest level of long-term holder capitulation since the FTX collapse." title="Through this recent dump to below $20k, we just had the highest level of long-term holder capitulation since the FTX collapse." /> </a> </td><td> <!-- SC_OFF --><div class="md"><p>After some euphoric upwards movements earlier this year of Bitcoin, followed by some boring weeks of nearly no price movements we are now, not-so unexpectedly, taking the elevator down again. While doing so we quickly dropped below the crucial support-areas of $22k and even $20k and also some indicators, like the Supertrend, flashed red again.</p> <p>Obviously one class that is often affected by such drops are simply the buyers and while we may thing that long-term holders should not sell, in reality long-term holders do sell occasionally. As those are long-term holders sales, they can be a great evidence of how brutal or unexpected a move is.</p> <p>​</p> <p><a href="https://preview.redd.it/0cn731vslyma1.jpg?width=1800&format=pjpg&auto=webp&s=f597ad3834f6bbd14477cc259daa7732c0f405f8">Chart from glassnode and James V.Straten</a></p> <p>This graph here shows the selling of long-term holders, specifically we are looking at the amount of BTC being deposited to exchanges from other wallets. Very high possibility that those are sells.</p> <p>Now we have just hit a new high of long-term holder selling due to the Silverbank and SBV collapse. This selling is at about 12k BTC right now per day, meaning about $240M of long-term holders BTC has been panic-sold. We should be happy to be the remaining long-term holders.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/partymsl"> /u/partymsl </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/11nxodr/through_this_recent_dump_to_below_20k_we_just_had/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/11nxodr/through_this_recent_dump_to_below_20k_we_just_had/">[comments]</a></span> </td></tr></table>