Bitccoin trading volume suggests BTC holders are less likely to let go of their Bitcoin despite falling prices. Volatility on the rise, but traders remain hopeful.
HODLers continue to hold on to their BTC, and traders remain optimistic.has maintained a relatively stable trading range between the $29k to $31k price range for a considerable period. Although the price witnessed some fluctuation and uncertainty, emerging data suggested that this period of stability may be the tranquil phase moving toward a more turbulent and dynamic market.
Moreover, the Spot vs. Derivatives volume ratio declined from 35% to 6%, signaling that only 6% of the total BTC trading volume was on the spot market. This indicated a reluctance among investors to sell their BTC.Most BTC investors tend to hold onto their tokens for the long term rather than sell. This behavior was evident in the BTC’s Binary CDD chart. It showed no active sales among Long-Term Holders since the beginning of the year.
If this trend persists, it could potentially trigger significant shifts in the Bitcoin market. Furthermore, it would introduce new dynamics and opportunities for investors and traders to navigate.Despite the uncertainty brought on by these factors, traders remained largely optimistic about Bitcoin. In the last few weeks, there was a significant decline in the put-to-call ratio for Bitcoin.
This massive decline indicates that many of these traders were expecting BTC’s price to go up as the number of put positions significantly outnumbered the number of call options across exchanges at press time.The positive movement of BTC is anticipated not only by traders but also by BTC holders, as revealed by Santiment’s data. The chart given below showed a significant decline in the MVRV ratio of Bitcoin.
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