{"id":22222,"date":"2022-03-29T08:06:14","date_gmt":"2022-03-29T07:06:14","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=22222"},"modified":"2022-03-29T08:41:21","modified_gmt":"2022-03-29T07:41:21","slug":"btc-long-term-holder-accumulation-reaches-new-high-eth-whales-addresses-increase","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/btc-long-term-holder-accumulation-reaches-new-high-eth-whales-addresses-increase\/","title":{"rendered":"Bitcoin Long-term Holder Accumulation Reaches\u00a0New High, Ethereum Whales Addresses Increase"},"content":{"rendered":"\n
Over the course of the recent weekend two of the world's largest cryptocurrencies – BTC <\/a>and ETH \u2013 have made significant gains, breaking through key resistance levels. <\/h5>\n\n\n\n
\"\"
Bitcoin Vs Ethereum<\/figcaption><\/figure><\/div>\n\n\n\n

In the last 24 hours, Bitcoin has risen to about $48,000, while Ethereum has risen above $3,300.<\/p>\n\n\n\n

Bitcoin's long-term holder accumulation has hit its greatest level ever as the bitcoin continues to make strong gains according to Glassnode. Furthermore, as Bitcoin maintains a weekly close above $46,000, it appears that its short-term capitulation has come to an end.<\/p>\n\n\n\n

Bitcoin is 45% off the lows and Long-term holder accumulation is still at the highest level ever. pic.twitter.com\/JyRZLi3KUH\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a><\/em><\/p>\n\n\n\n

\u2014 Will Clemente (@WClementeIII) March 28, 2022<\/use><\/svg><\/span><\/a><\/em><\/p>\n\n\n\n

Additional on-chain data indicates that the Bitcoin accumulation is still rather strong at this point in time. Dylan LeClair, a crypto market analyst, provides the following explanation using data from Glassnode:<\/p>\n\n\n\n

Bitcoin is trading at $48,000 and throughout its entire history, there has only been one other time that the percentage of supply that hadn\u2019t moved in over a year was at this level; September 2020.<\/em><\/p><\/blockquote>\n\n\n\n

\"Bitcoin
Glassnode Bitcoin Supply data<\/figcaption><\/figure><\/div>\n\n\n\n

However, as the Bitcoin (BTC) price hits $48,000, it is possible that some short-term profit booking will occur at this point. Take, for example, the Bitcoin MVRV ratio. It displays the average Profit\/Loss of Bitcoin holders who purchased the coin within the previous calendar year.<\/p>\n\n\n\n

 As we know the Bitcoin price has risen beyond $47,000 for the first time in three months, since January 4, 2022. Lesia Chenko, a cryptocurrency market analyst, writes:<\/use><\/svg><\/span><\/a><\/p>\n\n\n\n

Short-term MVRV (30d) is breaking above 10%, meaning recent Bitcoin buyers are on average up 10% on their investment. Previous two times when avg P\/L of short-term traders reached 10% we faced strong selling pressure (sending BTC down over 15%).<\/p><\/blockquote>\n\n\n\n

Ethereum (ETH) whale addresses are increasing<\/strong><\/h3>\n\n\n\n

This year, the world's second-largest cryptocurrency has displayed similar volatility to Bitcoin. However, the accumulation of Ethereum (ETH) by whales, continues to take place on the sidelines. According to Santiment, a provider of on-chain data:<\/use><\/svg><\/span><\/a><\/p>\n\n\n\n

The number of #Ethereum addresses with 10k+ $ETH has grown to the largest amount (1,329) since December, 2021. This includes 40 more in just 5 weeks. There has been an evident correlation between the number of whale addresses & future price movement.<\/em><\/p><\/blockquote>\n\n\n\n

\"Bitcoin
Santiment report on ETH<\/figcaption><\/figure><\/div>\n","protected":false},"excerpt":{"rendered":"

Over the course of the recent weekend two of the world’s largest cryptocurrencies – BTC and ETH \u2013 have made significant gains, breaking through key resistance levels. In the last 24 hours, Bitcoin has risen to about $48,000, while Ethereum has risen above $3,300. Bitcoin’s long-term holder accumulation has hit its greatest level ever as […]<\/p>\n","protected":false},"author":32,"featured_media":22224,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[26],"tags":[152,128],"class_list":["post-22222","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrencies","tag-bitcoin","tag-ethereum"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/03\/bitcoin-vs-ethereum.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/22222","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/32"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=22222"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/22222\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/22224"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=22222"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=22222"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=22222"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}