Bitcoin: Why HODLing is your best bet right now



  • Bitcoin long-term holders have held their supply at a profit.
  • BTC has held above $43,000 despite declines.

As the price of Bitcoin [BTC] seeks stability, certain holders have remained steadfast, unaffected by the market’s volatility. How have they performed with their holdings?

Bitcoin HODLed across different age bands

According to the analysis on Glassnode, Bitcoin holders across various age bands have demonstrated strong conviction in retaining their assets.

The data showed that 69.6% of holders in the one-year age band have maintained their positions, while the figure stands at 56.4% in the two-year band.

Additionally, the analysis showed that the three-year age band consists of 43.5% of holders, and the five-year age band comprises 31.5%.

Furthermore, it is noteworthy that the supply held within these age bands remains below the all-time high.

How Bitcoin has fared across different MVRV periods

The various Bitcoin Market Value to Realized (MVRV) metrics analysis showed a consistent trend—all MVRVs analyzed were above zero. This showed that holders across the one to five-year MVRV categories have generally been holding their assets at a profit, with some variation in the profit.

Specifically, the 365-day MVRV was about 25.4% at the time of this writing. This implied that holders in this category held their assets with a profit of over 25%.

Notably, this band has been profitable since August 2023, reaching its peak around December, when it climbed to almost 51%.

Source: Santiment

Furthermore, the two-year MVRV was around 39% at the time of this writing. Unlike the one-year MVRV, it crossed above zero around October, with its peak occurring in January at over 55%.

Similarly, the 3-year MVRV, at around 21% at the time of this writing, crossed above zero around October and peaked at about 34% in January.

Bitcoin 2 and 3 year MVRV

Source: Santiment

Finally, the five-year MVRV was around 38% at the time of this writing. Like the two longer MVRVs, it went over zero around October and peaked at 54% in January.

These MVRV analyses collectively suggest that Bitcoin holders across different timeframes have been holding their assets at profitable levels.

Bitcoin 5-year MVRV

Source: Santiment


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BTC remains above its neutral line

Examining the Bitcoin daily timeframe chart showed the coin’s resilience in maintaining the $43,000 price range. At the time of this writing, it was trading at around $43,000, experiencing a decline of less than 1%.

Additionally, it remained slightly above the neutral line on its Relative Strength Index (RSI).

 

Next: What next for XRP after bears retain control





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