{"id":126301,"date":"2025-04-02T08:16:10","date_gmt":"2025-04-02T08:16:10","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=126301"},"modified":"2025-04-02T08:16:10","modified_gmt":"2025-04-02T08:16:10","slug":"bitcoin-sales-at-109k-all-time-high-significantly-below-cycle-tops-research","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=126301","title":{"rendered":"Bitcoin sales at $109K all-time high &#039;significantly below&#039; cycle tops \u2014 Research"},"content":{"rendered":"<p>Source: Cointelegraph.com NewsBitcoin (BTC) investors who bought BTC in 2020 or later are still waiting for higher prices, new research says.<br \/>\nIn findings published on X on April 1, onchain analytics firm Glassnode revealed that $110,000 was not high enough to make many hodlers sell.<br \/>\nGlassnode: 2020 Bitcoin buyers \u201cstill holding\u201d<br \/>\nBitcoiners who entered the market between three and five years ago have retained their holdings despite significant BTC price upside.<br \/>\nAccording to Glassnode, this investor cohort, with a cost basis from anywhere between the 2020 lows of $3,600 and the 2021 highs of $69,000, is still hodling.<br \/>\n\u201cAlthough the share of wealth held by investors who bought $BTC 3\u20135 years ago has declined by 3 percentage points since its November 2024 peak, it remains at historically elevated levels,\u201d it reports.<br \/>\n\u201cThis suggests that the majority of investors who entered between 2020 and 2022 are still holding.\u201d<br \/>\nBitcoin Realized Cap HODL Waves data. Source: GlassnodeAn accompanying chart shows data from the Realized Cap HODL Waves metric, which splits the BTC supply into sections based on when each coin last moved onchain.<br \/>\nUsing this, Glassnode is able to draw a distinction between the 2020-22 buyers and those who came immediately before them.<br \/>\n\u201cIn contrast, over two-thirds of those who had bought $BTC 5\u20137 years ago exited their positions by the December 2024 peak,\u201d it reveals, reflecting their lower cost basis.<br \/>\nSpeculators stay cool at BTC price highs<br \/>\nAs Cointelegraph reported, more recent buyers, who form the more speculative investor cohort known as short-term holders (STHs), have proven much more sensitive to recent BTC price volatility.<br \/>\nRelated: Bitcoin sellers &#8216;dry up&#8217; as weekly exchange inflows near 2-year low<br \/>\nEpisodes of panic selling have occurred throughout the past six months as BTC\/USD hit new record highs and then fell by up to 30%.<br \/>\nContinuing, Glassnode argued that current STH participation does not suggest a speculative frenzy \u2014 something common to previous BTC price cycle tops.<br \/>\n\u201cShort-Term Holders currently hold around 40% of Bitcoin&#8217;s network wealth, after peaking near 50% earlier in 2025,\u201d it commented alongside Realized Cap HODL Waves data on March 31.\u00a0<br \/>\n\u201cThis remains significantly below prior cycle tops, where new investor wealth peaked at 70\u201390%, suggesting a more tempered and distributed bull market so far.\u201d<br \/>\nBitcoin Realized Cap HODL Waves. Source: GlassnodeThis article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.<a href=\"https:\/\/cointelegraph.com\/news\/bitcoin-sales-109-k-all-time-high-significantly-below-cycle-tops-research?utm_source=rss_feed&amp;utm_medium=rss&amp;utm_campaign=rss_partner_inbound\" target=\"_blank\" class=\"feedzy-rss-link-icon\" rel=\"noopener\">Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Source: Cointelegraph.com NewsBitcoin (BTC) investors who bought BTC in 2020 or later are still waiting for higher prices, new research says. In findings published on X on April 1, onchain&hellip; <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/126301"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=126301"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/126301\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=126301"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=126301"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=126301"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}