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Bitcoin $20K Buyers Are Still Holding Their Position, Not Willing To Sell Off

Bitcoin (BTC) investors in 2017 all-time highs and above are not selling their holds, as data reveals.

Furthermore, as per the HODL Waves metric, coins in movement in the past six to twelve months now make up the biggest portion of the BTC supply.

Notably, these holds are still strong despite Bitcoin recording highs gains for them and also with sharp corrections. However, these range of buyers continue holding their position from November 2020 are refusing to sell.

More so, HODL Waves monitors the age distribution of of transaction outputs (UTXOs) still not in use. Then, shows the supply in control by those six to twelve-month Bitcoin “hodlers” is increasing. Notably, from 8.7% at the start of June to 21.4% as of Nov. 17.

Currently, coins in hold for several years are reducing slightly, signifying modest selling taking place. Of course, with the exception of the six to twelve-month group, investors’ who are not selling.

Additionally, The data highlights the idea that few Bitcoin owners intend to sell at current prices.

Lastly, however, there’s a distribution of coins by long-term holders, showing a bull market peak phase is kicking off.

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