Bitcoin, 75% of circulating supply has been dormant for over 6 months, short-term holders lost 80%...panic cells likely

Tyler Durden, project leader of the Web3 metaverse project Mokaverse, cites data from the HODL Waves indicator as saying, “Approximately 75% of Bitcoin in circulation has been dormant for more than six months. This trend in BTC holdings suggests a firm belief in the long-term value of Bitcoin despite market fluctuations.” Hodlwave is a metric that groups BTC supply based on the amount of time that has passed since each coin last moved.

Meanwhile, Checkmate, principal analyst at on-chain analytics firm Glassnode, reported on X that “more than 80% of Bitcoin short-term holders (STH) are now in a loss position (price below average buy price). This is similar to the situation in 2018, 2019, and mid-2021, and risks sparking panic among investors and triggering a downtrend.” BTC is currently trading down 1.92% to $58,440.28 on CoinMarketCap.