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The data analysis of the Bitcoin blockchain is revealing. As a result, different customer profiles can be observed. Entry-level buyers who want to position themselves for the long term differ significantly from short-term investors. In addition, some key levels particularly crystallize attention. Explanations.
Short-term holders are nervous as they approach $ 50,000.
Thanks to the transaction data on the Bitcoin blockchain, available to everyone, it is possible to analyze the behavior of buyers. Graphical distribution of unspent transaction levels (UTXO) provides information on investor activity based on the BTC price.
When it comes to short-term purchases, it is interesting to note that they are mostly made in the amount of between $ 17,000 and $ 48,000. In this data, a position is considered short-term if it is held for less than 155 days.
So from this we can conclude Purely speculative Bitcoin purchases tend to end around $ 50,000.. Therefore, this is the level that long-term investors should protect.
The Hodlers mass donate up to $ 60,000
As for long-term Bitcoin holders, it should be noted that they will still be mobilized to buy up to $ 60,000. We also see a sharp drop in buying pressure after this level.
In addition, a category of so-called mature bitcoin hodlers stands out. The latter currently represent the largest share of long-term investors who are still owners. They managed to take a position below $ 18,000. Buyers who invested before the end of November 2020 represent today the largest segment of bitcoin hodlers, on the other hand it should be noted that most of the current holders (11.5%) place BTC around $ 17,000.
Whether it’s a long-term investment or a speculative buy, the price range focuses buyers. Indeed, we see that buying pressure is growing on both sides, $ 17,000 to $ 24,000which absorbs most of the demand.
At what levels are trading platforms mobilized?
As for the exchange, it might come as a surprise that they mainly invest in bitcoin. From $ 30,000 to $ 49,000. This information is not without importance. This sheds light on the tensions that could affect the liquidity of the platforms.
At the time of writing, Bitcoin is trading around $ 23,200. Let’s assume that most cryptocurrency exchanges bought BTC in the middle of this range or $ 39,500. This means that their positions currently have a deficit of just over 40%.
However, reputable exchanges have collateralized liquidity pools and diversify their investments. However, we now know Bitcoin over $ 40,000 allows many exchanges to have more comfortable liquidity.
However, with bitcoin purchases on exchanges rarely below $ 30,000, the levels have crystallized for many positions.
$ 20,000 is at the center of all the pressure
While stock markets rallied slightly below $ 30,000, the $ 20,000 level still caused buyers to drop. In fact, about 350,000 BTC still held at that price were bought by exchanges for a total of $ 7 billion. This is the largest single entry point for platforms, although the 30,000 to 49,000 range includes multiple locations overall.
As for individuals, the $ 20,000 psychological reversal is also far from indifferent. Indeed, we note that this was the topic the increased buying pressure for holders whose addresses have BTC worth less than $ 10,000.
Additionally, the largest transfer volume from hodlers to short-term buyers is $ 20,000. It is interesting to assess the value of the $ 20,000 support in this bear market and although BTC currently appears to have found support there.
It should be noted that we are witnessing a strong mobilization of buyers also on a psychological level. $ 30,000 and $ 40,000. He remains unknown. It is currently impossible to predict what percentage of buyers who have invested between $ 40,000 and $ 50,000 will hold their positions over the long term. The more important this becomes, the more we can hope for a new Bitcoin spring.