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Glassnode Glassnode @glassnode · 44.1K subscribers
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The Week On-Chain 06 ,2024
Bitcoin investors have been rewarded for their patience and conviction, with BTC prices rallying to multi-year highs above $50k. The volume of supply held at a loss is also thinning quickly, with just 13% falling into this category.

Executive Summary
- Long-Term Holders have spend approximately 300k BTC since their supply peaked in Nov 2023. Just over half of these reflect GBTC outflow volumes.
- With the market trading at multi-year highs above $50k, the volume of supply held in loss is thinning out, reaching just 13% of the global total.
- The ETF sell-the-news correction in Jan-Feb has many characteristics of a classic 'bull market correction' through the lens of Short-Term Holders.

Read more in The Week On-Chain newsletter and watch our latest video analysis report.
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