In the face of a recent sell-off in the crypto market triggered by concerns over the SEC’s potential rejection of Spot Bitcoin ETFs, Bitcoin’s long-term holders, appear unfazed. Yonsei Dent, a prominent crypto trader and verified author at CryptoQuant provided a unique perspective on the market dynamics, revealing intriguing insights into how both short-term and long-term investors reacted to the recent ETF-related news.
Bitcoin Long-Term Holders Maintain Position Despite Market Volatility
Prominent crypto trader Yonsei Dent analyzed the BTC market upheaval on January 3rd, triggered by negative news on the spot Bitcoin ETF. Despite the price plunge from $45,000 to $40,000, current levels stabilize around $43,000.
Meanwhile, the analysis, shared by CryptoQuant on the X platform, delves into investor behavior using the SOAB (Spent Output Age Bands) and USD indicators. Notably, short-term holders (STH) in the 1 day-6 month range spent nearly $1 billion, while exiting near Breakeven, t
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