Bitcoin Address Activity Turns Negative As HODLing Dominates For Nearly Two Years – What’s Different This Cycle?
The post Bitcoin Address Activity Turns Negative As HODLing Dominates For Nearly Two Years – What’s Different This Cycle? appeared on BitcoinEthereumNews.com.
Bitcoin is currently trading below the $100K mark, with no clear trend in sight. After an intense period of volatility, bulls lost control last weekend, failing to sustain momentum for a breakout above all-time highs. However, bears also lack the strength to push the price significantly lower, leaving BTC in a state of consolidation. As the market struggles for direction, key on-chain data reveals an important trend among Bitcoin holders. Analyst Axel Adler shared insights highlighting that since Bitcoin reached $28K, address activity has dropped into negative territory. This means the majority of BTC holders are in HODL mode, reducing sell-side pressure and limiting major downside risk. The market now awaits confirmation of the next move, whether that’s a strong push back above $100K or a deeper correction into key demand levels. While price action remains indecisive, historical trends suggest that prolonged periods of consolidation often precede major breakouts. If Bitcoin manages to reclaim critical resistance, it could set the stage for a continuation of the bull cycle. Bitcoin Holders Won’t Sell Bitcoin has been consolidating below its all-time high since late December, with only a brief breakout attempt in mid-January that failed to trigger price discovery. Despite high expectations for BTC returns at the beginning of the year, the market has been trapped in a range, leaving both investors and analysts frustrated. The lack of momentum above $100K has raised concerns about whether BTC will continue its historic bull cycle or if the market is entering a prolonged consolidation phase. Top analyst Axel Adler shared key insights on X, highlighting a critical trend that could shape Bitcoin’s price trajectory. Adler points out that since BTC reached $28K, address activity has dropped into negative territory. This means that most Bitcoin holders have transitioned into HODL mode, significantly reducing the available…
Filed under: News - @ February 8, 2025 11:22 am