• September 29, 2023


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Glassnode: The Stage of Detoxification of Bitcoin Will Continue

ByLouis Adams

Sep 28, 2022 #Bitcoin
Reading time: < 1 minute

According to the analysts of analytical firm Glassnode, the price of Bitcoin has overcome the psychological level of $20,000. Hodlers remain resilient, maintaining a full cycle of “detox” of the market.

The experts have considered the indicator of age ranges of the amount of funds spent, an analysis that allows to assess the prevalence of “old hands” who are losing their conviction in the expediency of hodling.

The share of coins with a retention period of more than six months has dropped to 0.4%. At the height of the bull market in January last year, the figure was 8%. Based on these dynamics, the experts have concluded that long-term investors remain true to their strategy, refusing to exit positions on any meaningful scale.

Such sentiments are confirmed by the indicator of realized capitalization of HODL-waves. To date, the share of speculator-denominated and USD-denominated “wealth” in Bitcoins has fallen to an all-time low.