“Black Monday” surprised many novice traders, especially those who thought that Bitcoin could only go up. However, Bitcoin maximalists, HODLers, kept their cool despite the wild volatility of the flagship crypto. After all, a 10% drop in a month does not scare them. Meanwhile, 75% of Bitcoins have not moved for six months, proving that confidence is strong.
75% of Bitcoins Remain Still Despite the Storm
While bitcoin is on a roller coaster ride, and some analysts predict that another price drop is imminent, 75% of Bitcoins in circulation have not moved a single satoshi in over six months.
A dramatic increase from last week's 45%, according to Glassnode.
This voluntary inertia shows that Long-term investors hold firmconvinced that Bitcoin will eventually shine brightly. Such a reduction in the circulating supply could well drive up the stakes if demand were to explode.
- 75% of Bitcoins have been dormant for more than six months
- The price of BTC fell by 10% in one month but has climbed 12% over the last six months
On the other hand, for those who like short-term thrills, it's less funny. More than 80% of traders who recently bought find themselves in the redwhich could trigger a wave of panicked selling.
On-chain analyst James Check is sounding the alarm, comparing the situation to previous market crashes in 2018, 2019 and 2021.
Crypto: When miners take out the oars
The situation is not rosier for Bitcoin miners. According to CryptoQuant, their margins have been reduced to 25%, the lowest level since January. As a result, miners are being forced to sell off their precious reserves to keep their business afloat.
With costs rising and bitcoin falling, it's not party time in the village.
In August, Daily miner outflows reached 19,000 BTCa figure that made the most stoic among them tremble. For some, it recalls the periods of mining capitulation that often coincide with market troughs.
So, yes, there is grumbling among the miners, but history has shown that These moments of stress are often followed by a spectacular recovery.The crypto-journal expects twists and turns.
The decline in bitcoin does not scare everyone. Last June, 87% of bitcoin holders were in profit despite the drop in prices. Patience and length of time, as the other would say.
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