{"id":76314,"date":"2023-03-28T13:28:37","date_gmt":"2023-03-28T10:28:37","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=76314"},"modified":"2025-09-10T16:44:01","modified_gmt":"2025-09-10T13:44:01","slug":"glassnode-bitcoin-investors-confident-of-continued-uptrend","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/glassnode-bitcoin-investors-confident-of-continued-uptrend\/","title":{"rendered":"Glassnode: Bitcoin investors confident of continued uptrend"},"content":{"rendered":"<p>Against the backdrop of the largest wave of profit-taking in Bitcoin since May 2022, most coins have remained relatively inactive. The majority of speculators are prepared to hold them for longer periods, according to Glassnode analysts.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">After several weeks of out-performance by <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> prices, the market is taking a breather. <\/p>\n<p>In this report, we shall gauge investor confidence using a suite of on-chain tools, ranging from exchange flows to profit-taking and coin-holding times.<a href=\"https:\/\/t.co\/gr0R5tekCF\">https:\/\/t.co\/gr0R5tekCF<\/a><\/p>\n<p>\u2014 glassnode (@glassnode) <a href=\"https:\/\/twitter.com\/glassnode\/status\/1640368229892628485?ref_src=twsrc%5Etfw\">March 27, 2023<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Against the backdrop of the rally in the previous weeks, investors intensified the inflow of Bitcoin to centralized exchange accounts to 4,180 BTC (<span data-descr=\"14-day exponential moving average\" class=\"old_tooltip\">14D-EMA<\/span>) \u2014 the highest since <a href=\"https:\/\/u1f987.com\/en\/news\/terras-death-spiral-how-and-why-luna-and-ust-collapsed\">collapse of the Terra ecosystem<\/a> in May 2022. The trend confirmed profit-taking.<\/p>\n<p>Earlier instances with similar or larger net inflows during the last cycle were linked to market corrections, the analysts recalled.<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/insights.glassnode.com\/content\/images\/2023\/03\/01_exchange_netflow.png\" alt=\"Glassnode: \u0431\u0438\u0442\u043a\u043e\u0438\u043d-\u0438\u043d\u0432\u0435\u0441\u0442\u043e\u0440\u044b \u0443\u0432\u0435\u0440\u0435\u043d\u044b \u0432 \u043f\u0440\u043e\u0434\u043e\u043b\u0436\u0435\u043d\u0438\u0438 \u0432\u043e\u0441\u0445\u043e\u0434\u044f\u0449\u0435\u0433\u043e \u0442\u0440\u0435\u043d\u0434\u0430\"\/><figcaption>Source: Glassnode.<\/figcaption><\/figure>\n<p>Of the 31 000 BTC sent to exchanges last week, 92.5% belonged to speculators (65% of the coins associated with them were in profit), and 7.5% \u2014 hodlers (80%).<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/insights.glassnode.com\/content\/images\/2023\/03\/02_lthsth_toexchanges.png\" alt=\"Glassnode: \u0431\u0438\u0442\u043a\u043e\u0438\u043d-\u0438\u043d\u0432\u0435\u0441\u0442\u043e\u0440\u044b \u0443\u0432\u0435\u0440\u0435\u043d\u044b \u0432 \u043f\u0440\u043e\u0434\u043e\u043b\u0436\u0435\u043d\u0438\u0438 \u0432\u043e\u0441\u0445\u043e\u0434\u044f\u0449\u0435\u0433\u043e \u0442\u0440\u0435\u043d\u0434\u0430\"\/><figcaption>Source: Glassnode.<\/figcaption><\/figure>\n<p>The volume of daily realized profit reached $320 million. The last time such a high figure was observed was shortly before the Terra collapse. The magnitude remains below bull-market levels. The pace of realized losses has been waning since July 2022.<\/p>\n<p>This combination confirms <a href=\"https:\/\/u1f987.com\/en\/news\/glassnode-notes-transitional-phase-from-bear-to-bull-market\">previous observations<\/a> about the formation of a transitional market structure after the bear phase, the specialists emphasised.<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/insights.glassnode.com\/content\/images\/2023\/03\/03_netrealpnl.png\" alt=\"Glassnode: \u0431\u0438\u0442\u043a\u043e\u0438\u043d-\u0438\u043d\u0432\u0435\u0441\u0442\u043e\u0440\u044b \u0443\u0432\u0435\u0440\u0435\u043d\u044b \u0432 \u043f\u0440\u043e\u0434\u043e\u043b\u0436\u0435\u043d\u0438\u0438 \u0432\u043e\u0441\u0445\u043e\u0434\u044f\u0449\u0435\u0433\u043e \u0442\u0440\u0435\u043d\u0434\u0430\"\/><figcaption>Source: Glassnode.<\/figcaption><\/figure>\n<p>The Liveliness indicator (<a href=\"https:\/\/academy.glassnode.com\/indicators\/liveliness\/liveliness\"> Liveliness<\/a> (the dynamism of hodlers&#8217; behaviour)) has maintained a downward trajectory, indicating a tendency to hold Bitcoin and confidence in the asset.<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/insights.glassnode.com\/content\/images\/2023\/03\/05_liveliness.png\" alt=\"Glassnode: \u0431\u0438\u0442\u043a\u043e\u0438\u043d-\u0438\u043d\u0432\u0435\u0441\u0442\u043e\u0440\u044b \u0443\u0432\u0435\u0440\u0435\u043d\u044b \u0432 \u043f\u0440\u043e\u0434\u043e\u043b\u0436\u0435\u043d\u0438\u0438 \u0432\u043e\u0441\u0445\u043e\u0434\u044f\u0449\u0435\u0433\u043e \u0442\u0440\u0435\u043d\u0434\u0430\"\/><figcaption>Source: Glassnode.<\/figcaption><\/figure>\n<p>The metric <a href=\"https:\/\/forklog.news\/kak-rasschitat-budushhuyu-stoimost-bitkoina-i-drugih-kriptoaktivov-chast-2\/\"> Average Coin Dormancy<\/a> applied to short-term investors showed a doubling of the &#8216;average age&#8217; of spent coins from 10 days at the time of the FTX crash to the current 21 days.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>\u201cSpeculators are willing to wait out longer periods, signaling their confidence in the prevailing market trend,\u201d<\/em> \u2014 the analysts concluded.<\/p>\n<\/blockquote>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/insights.glassnode.com\/content\/images\/2023\/03\/Group-2914.png\" alt=\"Glassnode: \u0431\u0438\u0442\u043a\u043e\u0438\u043d-\u0438\u043d\u0432\u0435\u0441\u0442\u043e\u0440\u044b \u0443\u0432\u0435\u0440\u0435\u043d\u044b \u0432 \u043f\u0440\u043e\u0434\u043e\u043b\u0436\u0435\u043d\u0438\u0438 \u0432\u043e\u0441\u0445\u043e\u0434\u044f\u0449\u0435\u0433\u043e \u0442\u0440\u0435\u043d\u0434\u0430\"\/><figcaption>Source: Glassnode.<\/figcaption><\/figure>\n<p>In March 2023, the founder and CEO of the analytics firm Messari, Ryan Selkis, <a href=\"https:\/\/u1f987.com\/en\/news\/messari-ceo-forecasts-bitcoin-to-reach-100-000\">predicted<\/a> Bitcoin would rise to $100 000 within 12 months. He described the leading cryptocurrency as a safe investment in the face of problems in the US economy.<\/p>\n<p>A similar view <a href=\"https:\/\/u1f987.com\/en\/news\/cnbc-major-players-forecast-bitcoin-to-reach-100000\">was voiced<\/a> by many industry experts, according to a CNBC poll.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Against the backdrop of the largest wave of profit-taking in Bitcoin since May 2022, most coins have remained relatively inactive. The majority of speculators are prepared to hold them for longer periods, according to Glassnode analysts.<\/p>\n","protected":false},"author":1,"featured_media":76315,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[18,1273,1145],"class_list":["post-76314","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin","tag-glassnode","tag-market-analysis"],"aioseo_notices":[],"amp_enabled":true,"views":"10","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/76314","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=76314"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/76314\/revisions"}],"predecessor-version":[{"id":76316,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/76314\/revisions\/76316"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/76315"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=76314"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=76314"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=76314"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}