BTC's Long-Term Holders Unfazed by Market Mayhem, Glassnode Reports

Steady Hands Amid the Storm

While the crypto market's been a wild rollercoaster, leaving many investors clutching their wallets in despair, Bitcoin's long-term holders are chilling like it's a sunny day at the beach. That's the word from the data wizards at Glassnode.

Newbies vs. Veterans

Yeah, the newbies are getting slammed with the "largest unrealized losses on record," but the OGs? They're still sipping their profits like fine wine. The report's clear: short-term holders are feeling the burn, but the long-term crew? They're holding steady, unfazed by the chaos.

Been There, Done That

Glassnode's dropping some serious knowledge: "from an individual investor perspective, the market has endured far more severe drawdowns in prior cycles, notably during the May 2021 and 2022 bear markets."

Glassnode

Profit Party for the Patient

Get this: a whopping 75% of the circulating supply is still in the green. That's right, the majority of those underwater are the fresh faces in the crypto crowd. And guess what? The long-term holders? They're not just holding; they're stacking more, showing they've got faith in the game.

Bear Market? Not So Fast

Historically, when long-term holders start feeling the pinch, it's a red flag for bear market vibes. But right now? Glassnode's saying there's "no clear evidence to suggest such a regime shift is underway." So, chill out, folks.

Coinbase's Crystal Ball

Back in April, Coinbase was sounding the alarm about a potential bear market. But they're also saying prices might find their footing between May and June, setting the stage for a killer Q3. So, keep your eyes peeled and your wallets ready.