No blow-off top? Bitcoin hodler metric points to ‘depressed’ BTC price

Bitcoin (BTC) investors are famous for their ability to “hodl” through price dips, but new data sheds light on how long they may be prepared to continue. In a tweet on Jan. 16, on-chain analytics firm Glassnode noted that holder behavior currently mimics how Bitcoin behaves during the least extreme part of its price cycles. Reserve Risk: Bitcoin price ‘depressed,’ hodlers hodl on Referring to its Reserve Risk (“R-Risk”) metric, Glassnode argued that current buying and selling trends are not those of a macro top or bottom. “Low values of…

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Bitcoin sees first downward difficulty move in 5 months amid ‘uncertainty’ over hodler spending

Bitcoin (BTC) is in a tight battle between bulls and bears and the network is now reacting, data shows. Trackers reveal that this week, Bitcoin difficulty snapped an 18-week green streak to post its first decrease since July. Difficulty adjusts to 20% BTC price dip  Amid cyclical short-term price action, concern remains that Bitcoin is not done retracing from its latest $69,000 all-time highs. Having surprised analysts and even rejected one lifelong price model, BTC/USD over the past month feels like uncharted territory — despite roughly doubling year to date.…

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Eth2 staking contract ranks as single-largest Ether hodler with $21.5B

The staking contract for the Ethereum 2.0 blockchain is now the single-largest holder of Ether. According to blockchain analytics provider Nansen, the Eth2 staking contract has surpassed Wrapped Ethereum (wETH) to become the single largest holder of ETH. Unlike Ether, Wrapped Ether adheres to the ERC-20 standard, making it the favored representation of ETH among DeFi protocols that use ERC-20 tokens. The findings were posted to Twitter by Alex Svanevik, CEO of blockchain analytics firm, Nansen, on Aug. 17. The data shows that the Beacon Chain’s deposit contract holds 6.73…

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Bitcoin could be on the verge of a big breakout at $42K, hodler activity suggests

On-chain analyst Willy Woo asserted that Bitcoin (BTC) would break above the $42,000-resistance level in its coming attempts. The researcher based his bullish analogy on the so-called Rick Astley indicator, a heat-map that tracks investors—the Rick Astleys of this world—that buy Bitcoin to hold the asset for longer timeframes. The indicator earlier predicted Bitcoin price spikes based on investors’ buying activity below certain technical resistance levels. Investors’ buy-and-hold habits tracked using Bitcoin on-chain heat map. Source: Willy Woo However, Woo noted that the “strong-handed long term investors are absorbing” the…

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HODLer claims to have used crypto profits for father’s cancer treatment

Though investing in crypto has the potential to radically change someone’s financial situation, one HODLer is saying their actions may have actually saved someone’s life.  In a Reddit post under the r/cryptocurrency subreddit today, a U.K.-based user claimed that advice they gave to a university acquaintance two years ago resulted in that person’s father being able to receive critical treatment for lung cancer. “I met a guy in the library who was looking for a particular book on cryptocurrency, I can’t remember what it was but I’m sure it was cryptocurrency…

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Youngest HODLer ever? Elon Musk buys DOGE for his 9-month-old son

Elon Musk’s child with Canadian musician Claire Elise Boucher, or Grimes, may now be one of the youngest public crypto users on record. In a tweet today from the Tesla CEO, Musk said his 9-month-old son is now the proud — or maybe just fussy — owner of some Dogecoin (DOGE), referring to him as a “toddler HODLer.” The boy, born last May, is named X Æ A-Xii — pronounced “ex ash eh twelve” — with the last two syllables an homage to Lockheed’s A-12 aircraft. Bought some Dogecoin for…

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Driving to the moon? HODLer installs portable mining rig in BMW

Crypto enthusiast Simon Byrne has taken crypto mining out of the garage and onto the road after installing a small farm in the trunk of his car. According to a report from Hardware Times, Byrne purchased a BMV i8 hybrid vehicle retailing for roughly $150,000 and equipped it with a small crypto mining rig consisting of six GeForce RTX 3080 graphics cards. The rig is powered by an ASUS B250 Mining Expert board and an EVGA SuperNOVA 1600 T2 power supply. It is reportedly capable of mining both Bitcoin (BTC)…

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Hodler liquidates to pay off parents’ mortgage

Reddit’s r/Bitcoin community continues to pull on our heartstrings. On Thursday, a user by the name of “u/Bigtony96” claimed to have sold their entire Bitcoin (BTC) stash to pay off their parents’ mortgage.  The Redditor supposedly unloaded a total of 6 BTC accumulated over the past three years to close out the remaining balance on their parents’ home. They said there was enough money left over to cover taxes and, possibly, buy a new car. “Today is the day I’ve dreamt of for the past several years, and it feels…

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$30K BTC price imminent? This Bitcoin hodler metric hints at the next rally peak

Bitcoin (BTC) HODLer volume has marked previous tops and the start of bull cycles. As the dominant cryptocurrency heads towards $30,000, HODLer activity could be a useful tool to potentially gauge BTC’s next peak. Since October, as Cointelegraph reported, the HODLing activity of Bitcoin has continuously increased. Fewer HODLers have been moving their holdings, which indicates an overall bullish market sentiment. Bitcoin HODLer volume. Source: Whalemap Why HODLer activity is important to assess Bitcoin market sentiment The term “HODLer” refers to long-time holders of Bitcoin. It is possible to track…

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