Up-to-date studies say that Bitcoin investors (BTC) who bought BTC in 2020 or later are still waiting for higher prices.
In the findings Published on X On April 1, Onchain Analytics Glassnode revealed that $ 110,000 was not high enough for many Hodlers to sell.
Glassnode: 2020 Bitcoin Buyers “still stick”
Bitcoiners, who entered the market from three to five years ago, stopped their shares despite the significant enhance in the BTC price.
According to Glassnode, this group of investors, with the basis of costs between low USD 3,600 and $ 69,000 in 2021, is still breeding.
“Although the share of the property owned by investors who bought BTC 3-5 years ago, fell by 3 percentage points from the peak of November 2024, remains at a historically elevated level,” he said.
“He suggests that most investors who entered in the years 2020–2022 are still holding.”
Bitcoin completed the Hodl Hodl wave data. Source: Glassnode
The accompanying table shows data from the Hodl Cap wave metric, which divides BTC delivery into sections based on when each coin recently moved on the area.
Using this, Glassnode is able to draw a distinction between the buyers 2020–22 and those who came just before them.
“On the other hand, over two -thirds of those who bought BTC 5-7 years ago, left their positions to the peak of December 2024,” it results, reflecting their lower costs.
The speculators remain frosty at high BTC prices
According to Cointelegraph, newer buyers who create a more speculative cohort of investors called compact -term owners (STHS), turned out to be much more sensitive to the recent Volat heon of BTC prices.
Related: Bitcoin sellers “dry” when the weekly revenues of the stock exchange near the lowest 2-year-olds
Panic sales sections have taken place in the last six months, because BTC/USD has reached novel records and then dropped by up to 30%.
Continuing, Glassnode said that the current participation of STH does not suggest speculative madness – something to do with the previous vertices of the BTC price cycle.
“Short -term owners currently have about 40% of Bitcoin network wealth, after reaching a maximum of nearly 50% earlier in 2025”, IT he saidIn addition to completed wave data, Hodl Cap on March 31.
“This remains well below the earlier peaks of the cycle, in which the new wealth of investors has reached the highest level of 70-90%, suggesting so far a more tempered and distributed bull market.”
Bitcoin realized the waves of hats. Source: Glassnode
This article does not contain investment advice or recommendations. Each investment and commercial movement involves risk, and readers should conduct their own research when making decisions.
