With bitcoin trading mostly sideways during the weekend, without any major movement, the top cryptocurrency by market cap still fell under the important $40,000 mark. According to analysts’ data, short-term holders continue to be the main driver of bitcoin’s (BTC) volatility.
The market price of bitcoin stayed around $44,000 during most of last week, printing a seven-day top on Wednesday at just over $44,500, but started to decrease on Friday. Bitcoin barely managed to hold above $40,000 over the weekend but fell through on Sunday. Over the last seven days, bitcoin is down about 8%, at the moment of writing bitcoin is up 2.2% in the past 24 hours, trading at $39,145.
Short-term holders main driver of BTC volatility
According to analysts at both Glassnode and IntoTheBlock, short-term holders are the most likely cohort to spend their coins in response to volatility and continue to be the main driver of BTC volatility. While long-term holders remain unfazed, the balance held by trader
We współpracy z: https://cryptoslate.com/btc-below-40k-short-term-holders-drive-volatility-while-geopolitics-spook-markets/
