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BTC Short-Term Holders Unwilling to Sell Despite Market Doldrums: Bollinger Bands

• Bitcoin (BTC) short-term holders are unwilling to sell their BTC despite the crypto market doldrums.
• Glassnode’s Bitcoin Short-Term Holder Sell-Side Risk Ratio measures the amount of BTC that has moved in the past five months.
• The Bollinger bands measure an asset’s price and volatility oscillation over time.

On-Chain Indicator Shows Short-Term Bitcoin Bulls Unwilling To Sell Their BTC

The analytics firm Glassnode has looked at a metric called the Bitcoin Short-Term Holder Sell-Side Risk Ratio, which analyzes the amount of BTC that has moved in the past five months. This metric takes into account all profits and losses realized on chain during this period and divides it by its realized cap, which is based on each Bitcoin’s last movement value rather than its current market value. The results show that short term holders have been largely unwilling to spend, regardless of whether they were in profit or bought near the top.

Bollinger Bands

Bollinger Bands measure an asset’s price and volatility oscillation over time. When looking at this metric, values are low indicating a high probability that investors are exhausted with this price range and need something to change before they will be motivated to spend.

Current Price Action

At the time of writing, Bitcoin is trading at $28,593 – down 2% from 24 hours ago.

Conclusion

Short term holders do not appear willing to sell their BTC despite recent market dips – indicating a strong level of confidence in their holdings for now. In addition, Bollinger Band measurements suggest investors may need something more drastic before they become motivated to move their coins again; however current price action does not appear too bearish for now.

Takeaways

• Bitcoin (BTC) short-term holders are unwilling to sell their coins despite crypto market doldrums.
• Glassnode’s Bitcoin Short-Term Holder Sell-Side Risk Ratio indicates unwillingness to spend regardless of profits or losses on investment
• Bollinger bands measure asset’s price and volatility oscillation over time – low values indicate investors may need additional motivation before spending
• At time of writing, Bitcoin is trading at $28,593 – down 2% from 24 hours ago