Sunday, November 27, 2022

‘Old hands selling out’ metric shows Bitcoin price at risk of HODLers dumping By Cointelegraph

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‘Old hands selling out’ metric shows Bitcoin price at risk of HODLers dumping

Old hands are selling their (BTC) holdings, according to Glassnode’s Coin Dormancy metric. As shown below, dormant addresses selling BTC marked previous tops in BTC.

Coin dormancy of Bitcoin. Source: Glassnode

On-chain analyst Willy Woo said old hands reliably sold the top until the most recent price cycle. He wrote: