It’s been over two months since Bitcoin (BTC) hit an all -time high (ATH), $ 68,789.63.
According to a report from the analytics firm, Glassnode, a number of investors who bought bitcoin when the price hovered around $ 60,000 have already sold it when the asset was worth $ 35,000- $ 38,000.
At the same time, existing indicators show long-term investors are still hodl despite the recent Russia-Ukraine crisis bringing FUD sentiment.
For the record, Glassnode used UTXO Realized Price Distribution (URPD) against several key dates last year and compared it to the current situation.
URPD serves as the latest Bitcoin price tracker. The use of URPD is also very useful for identifying how much profit or loss an investor has.
The following details are based on observations using URPD:
10 May
Buying pressure occurs when the price is $ 54,000- $ 60,000 before asset prices plummet.
Glassnode described the situation as a period of bitcoin sales from amateur investors to professional investors.
November
When the price of bitcoin rises again, it reaches the ATH zone; URPD again showed the same signal but the sale took place around the price of $ 62,000; $ 47,000; and $ 35,000.
While a handful of investors who added BTC in May to July, have been making profits throughout August to November.
According to Glassnode, investor behavior drives cryptocurrency market volatility. For example, investors who are willing to turn a blind eye to incur losses after buying BTC when the price is high.
In contrast to the hodlers who still survive the turmoil of the market. The evidence is that asset liquidity on most crypto exchange platforms has remained stable since July 2021 and deposit records are also declining, meaning the market is already beginning to be dominated by long -term investors.
At the time of writing, BTC is trading at $ 43,896, up over 1% in 24 hours.
Do you also hold or wait for time to sell?
