Faced with Bitcoin shattering its historic record by reaching $75,000, driven by Donald Trump's victory in the American elections, long-term investors are maintaining remarkable discipline. This unusual restraint, even as the market experiences a phase of euphoria, could mark a major turning point in the maturity of the crypto ecosystem.
A major transformation in the behavior of “hodlers”
Data from IntoTheBlock reveals an unprecedented phenomenon in the history of Bitcoin. Despite the meteoric rise of the price which crossed the symbolic mark of $75,000, catalyzed by Trump's electoral victory, the “hodlers” maintain their composure. Between October 28 and November 4, their total balance saw only a minimal change, going from 12.68 million to 12.68 million BTC.
This caution contrasts radically with previous bullish cycles, where price peaks were systematically accompanied by massive sales. Investors now seem to favor a gradual disengagement strategy and measured, rather than hasty liquidations.
The resilience of the market in the face of this new dynamic is particularly remarkable: the relative strength index (RSI) remains at 54.66, reflecting a healthy balance between buying and selling pressure.
Implications for the future of the market
The CHOP volatility index, currently at 49.90, confirms a notable stabilization of the market. This metric, close to the equilibrium point of 50, suggests that Bitcoin is entering a maturity phase characterized by more predictable price movements.
This new approach from historical holders could reflect a deep conviction in the long-term potential of Bitcoin. Instead of giving in to the temptation of quick gains, they seem to adopt a more strategic vision, favoring staggered profit taking.
The growing confidence of institutional investors, particularly following the approval of spot Bitcoin ETFs, is likely contributing to this shift towards a more sophisticated market.
The transformation in Bitcoin holder behavior potentially marks a watershed moment for the crypto ecosystem. This new maturity, characterized by more thoughtful investment decisions, could finally allow BTC to assert itself as a mature asset class, capable of sustainably attracting institutional investors.
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