Using this article, let’s talk about a common mistake in on-chain data analysis, which is long-term holders.
You think the chart shows that long-term holders have been increasing over the past few months.
Actually, that is wrong!!
The definition of long-term holders: glassnode defines holding for 5 to 6 months as long-term holders (this is roughly the number, I can't remember the exact figure).
So, it’s not about increasing holdings; those who bought BTC and did not sell will naturally become long-term holders.
So, 5 to 6 months ago was when BTC was at its peak, and a large number of positions were locked in.
Thus, by doing nothing in the market, the current timeframe will turn those into long-term holders.
Disclaimer: This article represents only the personal views of the author and does not represent the position and views of this platform. This article is for information sharing only and does not constitute any investment advice to anyone. Any disputes between users and authors are unrelated to this platform. If the articles or images on the webpage involve infringement, please provide relevant proof of rights and identity documents and send an email to support@aicoin.com. The relevant staff of this platform will conduct an investigation.