Bitcoin Diamond Hände erreichen neue Höchststände, Vorschau vor der neuen Rallye?

Mit einer 31.6% Gewinn im Wochenchart, Bitcoin has been retaking his mantle as the king of the crypto market during the past days. The first cryptocurrency by market cap has been moving to the upside with a strong conviction and seem poised to retake its previous highs.

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Zum Zeitpunkt des Schreibens, Bitcoin handelt bei $54,659 mit einem 1% Gewinn im Tages-Chart. Während dieser Zeit, BTC’s price was rejected as it entered the mid-area around its current levels.

BTC BTCUSD
BTC bewegt sich auf dem Tages-Chart seitwärts. Quelle: BTCUSD Tradingview

In support of the bulls, Glassnode records an increase in the number of BTC investors with “diamond hands” or less inclined to take profits on sudden moves. This metric now stands at an 80.5% of the Bitcoin total circulating supply.

In diesem Sinne, 71.1% of the Bitcoin long term holders are in profit as BTC moved back into the $50,000, mit einem 9.4% at a loss and a 19.5% of the circulating supply in control of short-term holders. The latter are comprised of those investors who took a position in BTC in the past 3 Monate.

Wie unten zu sehen, Bitcoin has managed to climb to an all-time high in every previous bull market when the number of long-term holders reached or surpassed 54%.

Bitcoin BTC BTCUSD
Quelle: Glasknoten

At its peak in 2021, when the price of Bitcoin touched the $64,000, Glassnode records a long-term holder’s percentage of 67.7%. In combination with the low percentage of short-term holders, there seems to be enough evidence to suggest a continuation in the upward trend.

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Further data provided by Glassnode indicates a rise in the number of BTC purchase by long-term holders since March 2021. Während dieser Zeit, long-term holders added over 2.35 million BTC to their addresses.

Im Gegensatz, nur 180,000 Bitcoin (BTC) were issued by miners. Deshalb, long-term holders added 13x more BTC than those produced by this sector.

Bitcoin BTC BTCUSD
Quelle: Glasknoten

Bitcoin Fundamentals Favor The Bulls

Additional data provided by CryptoQuant noted a reduction in the supply of Bitcoin held by crypto exchange platforms. This metric has dropped to a 1-year low, as seen in the upcoming chart.

BTC BTCUSD
Quelle: CryptoQuant

Während dieser Zeit, the chart shows a direct correlation between the price of BTC and its supply across exchange platforms.

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jedoch, CryptoQuant also notes almost no variation in the stablecoin supply ratio. On a decline since May 2021, this metric is used to measure the demand on the crypto market.

BTC BTCUSD
Quelle: CryptoQuant

Wie die Grafik zeigt, BTC’s price took important hits when the stablecoin supply ratio dropped in March until the end of July when an uptick coincided with Bitcoin moving away from its previous range in the $30,000.

If the bulls are to have a serious chance at retaking its previous all-time highs, the stablecoin supply ratio needs to get back at the yearly open levels.

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