Close Menu
  • News
    • Bitcoin
    • Altcoins
    • DeFi
    • Regulation
    • Market Cap
    • Web 3
    • Scam
  • Blockchain
  • NFT
  • Metaverse
  • Analysis
  • Learn
  • Blog
  • Contact
    • Tech7685@gmail.com
What's Hot

Mike Novogratz says that weakening dollars, broadening the shortage and the deteriorating financial situation of America ‘very good’ for Bitcoin and Crypto

2025-05-21

Solana’s Bonk focuses on 77% corrective movement after withdrawing to 200 EMA

2025-05-21

Fibs Atlanta Man Roodert for alleged application of more than $ 3,390,000 in fraudulent small business loans during Covid

2025-05-21
Facebook X (Twitter) Instagram
  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Advertise
  • BitcoinPlatform.com
Facebook X (Twitter) Instagram
Free Cryptocurrency – Bitcoin | Altcoins | Blockchain | News Stories Updated Daily
  • News
    • Bitcoin
    • Altcoins
    • DeFi
    • Regulation
    • Market Cap
    • Web 3
    • Scam
  • Blockchain

    Nitro Labs launches data anchor to lower the storage costs of Solana

    2025-05-21

    Zimbabwe rolls out blockchain-based carbon credit market system

    2025-05-21

    Kalp Network Partners with Luffa to stimulate Web3 Privacy and RWA access

    2025-05-21

    Smarter athlete data via PSG Labs and Joint Innovation Studio

    2025-05-21

    Sahara AI launches Siwa Testnet to authorize decentralized AI builders

    2025-05-21
  • NFT

    Guild of Guardians leads with a huge volume of $ 796.62k

    2025-05-20

    Solana Meme Coin Ponke Set to release assembly objects, clothing via Jcorp Spinout

    2025-05-19

    The most popular collections of the moment on blockchain

    2025-05-18

    Raoul Pal sees NFT market exploding when Ethereum Bull Cycle is approaching

    2025-05-17

    Ethereum is at the top of the charts in weekly NFT sales with $ 44.7 million in sales volume

    2025-05-16
  • Metaverse

    Shib: The Metaverse – Part of the expanding Shiba Inu ecosystem

    2025-01-03

    Experience to Earn: Everdome’s Metaverse Frontier

    2024-12-30

    Beyond Bots: Meta Motivo and the Dawn of Human Digital Life

    2024-12-13

    Exploring NetVRk: What’s Behind This AI-Powered Virtual Universe?

    2024-10-28

    Council of Europe emphasizes the impact of Metaverse on privacy and democracy

    2024-09-05
  • Analysis

    Mike Novogratz says that weakening dollars, broadening the shortage and the deteriorating financial situation of America ‘very good’ for Bitcoin and Crypto

    2025-05-21

    Does the XRP price mirror the Rally of 2017? Analyst points to agreements

    2025-05-21

    Bitcoin breaks $ 109k ATH to enter the price discovery again

    2025-05-21

    XRP – Price coil for an outbreak – is the next leg on hands?

    2025-05-21

    Bitcoin Whale places 40x leverage of $ 830 million long position on hyperliquid

    2025-05-21
  • Learn

    What Is a DEX (Decentralized Exchange)?

    2025-05-21

    Blockchain Explained: What It Is, How It Works and Why We Need It

    2025-05-21

    Types of Blockchain Layers Explained: Layer 0, Layer 1, Layer 2 and Layer 3

    2025-05-16

    Token vs. Coin: Key Differences You Must Know as a Beginner

    2025-05-15

    Inside Changelly: 10 years of steadfast support and compliance

    2025-05-15
  • Blog
  • Contact
    • Tech7685@gmail.com
Free Cryptocurrency – Bitcoin | Altcoins | Blockchain | News Stories Updated Daily
Home»Altcoins»Bitcoin’s Price Drop to $62,000 Was Led by This Holer Cohort, Data Shows
Altcoins

Bitcoin’s Price Drop to $62,000 Was Led by This Holer Cohort, Data Shows

2024-10-09No Comments3 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email

This article is available in Spanish.

The Bitcoin price is still recovering from a big dip to $60,000 in the first three days of October. As bulls and long term holders continue to capitalize During the dip, analysis of on-chain data has revealed that selling pressure has diminished dramatically as the majority of short-term holders have exited the market. Interestingly, these short-term holders are responsible for the drop to $60,000, as the data shows that many of them exit the market during the initial decline, further exacerbating the price decline.

Short-term holders are leaving the market

According to an analysis of cohorts of Bitcoin holders using data from the CryptoQuant platform, the supply of Bitcoin in the hands of short-term holders has decreased significantly since the beginning of the month. While this has contributed to Bitcoin’s price decline during this period, it has not necessarily bad for crypto moving forward. This notable decline is visible in the purple bars in the chat below, with each period of price decline highlighted by an increase in short-term bond sell-offs by holders.

Related reading

The Bitcoin price, which ended September around $65,000, started October with a price dip amid broader market tensions. This in turn led to a 7.5% Bitcoin price drop until it bottomed out at $60,100. Notably, the chart highlights that this most recent drop to the $60,000 level coincided with the emergence of more purple bars, showing that the sell-off by short-term holders played a major role in the price decline.

What does this mean for Bitcoin?

Going forward, the sell-off by short-term holders and the decline in prices have given rise to more accumulation by long-term holders. This in turn will lead to the creation of a price floor around $60,000 in the coming weeks and months. It also marks the shift from more bitcoins to stronger hands who would rather hold than sell.

See also  Uniswap (UNI) poised for 45% rally, on-chain stats confirm

Related reading

In particular, the exit of many short-term owners has led to better average costs for the cohort. According to on-chain statistics revealed by a verified CryptoQuant analyst, the average cost of one- to three-month holders is now approximately $61,633, and the average cost of three- to six-month holders is approximately $64,459.

At the time of writing, Bitcoin is trading at $62,130, which puts it right in the middle of these two keyholder cohorts. According to analyst Burak Kesmeci, a decisive close above the $64,500 level would significantly strengthen the bullish momentum, giving both short- and long-term holders more confidence to continue holding. On the other hand, if Bitcoin falls below $61,600, it could trigger a wave of additional selling pressure from more short-term holders, potentially leading to further price declines to get back to $60,000.

Bitcoin price chart from Tradingview.com
BTC Price Drops Below $62,000 | Source: BTCUSD on Tradingview.com

Featured image created with Dall.E, chart from Tradingview.com

Source link

Bitcoins cohort Data Drop Holer Led Price Shows
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Solana’s Bonk focuses on 77% corrective movement after withdrawing to 200 EMA

2025-05-21

Nitro Labs launches data anchor to lower the storage costs of Solana

2025-05-21

Does the XRP price mirror the Rally of 2017? Analyst points to agreements

2025-05-21

Trump: 73.64% of investors expect a rally – will they be right?

2025-05-21
Add A Comment

Comments are closed.

Top Posts

Bitcoin, Ethereum And The Rest Of Crypto – Analyst Updates Market Outlook After An Eventful Week

2023-06-08

‘Depression Bear Market’ that may start to start for Altcoins in the midst of caring signs on the stock market: Veteran Trader

2025-02-26

SubQuery Expands Data Indexing Capabilities for Evmos, Bridging Ethereum and Cosmos Ecosystems

2023-05-26
Editors Picks

Mint Blockchain receives funding to advance NFT projects

2024-10-15

Bitcoin will reach $175,000 if prices break above this ascending channel, Trader claims

2023-07-22

Kresus integrates unstoppable domains and adds .kresus digital identities

2023-05-13

Weekly winners and losers of Crypto Market – Tao, Fet, OM, Move

2025-04-20
About
About

Our mission is to develop a community of people who try to make financially sound decisions. The website strives to educate individuals in making wise choices about Cryptocurrencies, Defi, NFT, Metaverse and more.

We're social. Connect with us:

Facebook X (Twitter) Instagram Pinterest YouTube
Top Insights

Mike Novogratz says that weakening dollars, broadening the shortage and the deteriorating financial situation of America ‘very good’ for Bitcoin and Crypto

Solana’s Bonk focuses on 77% corrective movement after withdrawing to 200 EMA

Fibs Atlanta Man Roodert for alleged application of more than $ 3,390,000 in fraudulent small business loans during Covid

Get Informed

Subscribe to Updates

Get the latest news and Update from Free.cc about Crypto, Metaverse, NFT and more.

  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Advertise
  • BitcoinPlatform.com
© 2025 Free.cc - All rights reserved. Contact: info@free.cc

Type above and press Enter to search. Press Esc to cancel.

  • bitcoinBitcoin(BTC)$110,179.073.64%
  • ethereumEthereum(ETH)$2,587.082.71%
  • tetherTether USDt(USDT)$1.000.00%
  • rippleXRP(XRP)$2.402.57%
  • binancecoinBNB(BNB)$678.634.46%
  • solanaSolana(SOL)$173.493.64%
  • usd-coinUSDC(USDC)$1.000.00%
  • dogecoinDogecoin(DOGE)$0.2402236.41%
  • cardanoCardano(ADA)$0.774.63%
  • tronTRON(TRX)$0.268509-0.44%
  • suiSui(SUI)$3.943.17%
  • chainlinkChainlink(LINK)$16.143.42%
  • hyperliquidHyperliquid(HYPE)$29.6613.46%
  • avalanche-2Avalanche(AVAX)$23.465.36%
  • stellarStellar(XLM)$0.2952193.51%
  • shiba-inuShiba Inu(SHIB)$0.0000153.68%
  • hedera-hashgraphHedera(HBAR)$0.1978412.37%
  • unus-sed-leoUNUS SED LEO(LEO)$8.901.12%
  • bitcoin-cashBitcoin Cash(BCH)$413.435.53%
  • the-open-networkToncoin(TON)$3.112.03%
  • polkadotPolkadot(DOT)$4.782.99%
  • litecoinLitecoin(LTC)$97.684.00%
  • moneroMonero(XMR)$395.2311.41%
  • bitget-tokenBitget Token(BGB)$5.292.28%
  • piPi(PI)$0.849.93%
  • pepePepe(PEPE)$0.0000145.20%
  • daiDai(DAI)$1.000.02%
  • ethena-usdeEthena USDe(USDE)$1.000.01%
  • bittensorBittensor(TAO)$458.4110.40%
  • uniswapUniswap(UNI)$6.325.61%
  • aaveAave(AAVE)$251.55-2.61%
  • nearNEAR Protocol(NEAR)$2.894.12%
  • aptosAptos(APT)$5.324.30%
  • okbOKB(OKB)$52.771.45%
  • ondo-financeOndo(ONDO)$0.995.51%
  • ethereum-classicEthereum Classic(ETC)$19.275.28%
  • kaspaKaspa(KAS)$0.1110911.82%
  • official-trumpOFFICIAL TRUMP(TRUMP)$14.422.73%
  • internet-computerInternet Computer(ICP)$5.393.37%
  • gatechain-tokenGateToken(GT)$21.952.47%
  • crypto-com-chainCronos(CRO)$0.0984322.49%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.2462636.71%
  • vechainVeChain(VET)$0.0295914.97%
  • render-tokenRender(RENDER)$4.834.72%
  • mantleMantle(MNT)$0.74-0.21%
  • ethenaEthena(ENA)$0.4021558.64%
  • usd1World Liberty Financial USD(USD1)$1.000.04%
  • arbitrumArbitrum(ARB)$0.4152715.98%
  • algorandAlgorand(ALGO)$0.2318904.34%
  • filecoinFilecoin(FIL)$2.985.36%
  • bitcoinBitcoin(BTC)$110,179.073.64%
  • ethereumEthereum(ETH)$2,587.082.71%
  • tetherTether USDt(USDT)$1.000.00%
  • rippleXRP(XRP)$2.402.57%
  • binancecoinBNB(BNB)$678.634.46%
  • solanaSolana(SOL)$173.493.64%
  • usd-coinUSDC(USDC)$1.000.00%
  • dogecoinDogecoin(DOGE)$0.2402236.41%
  • cardanoCardano(ADA)$0.774.63%
  • tronTRON(TRX)$0.268509-0.44%
  • suiSui(SUI)$3.943.17%
  • chainlinkChainlink(LINK)$16.143.42%
  • hyperliquidHyperliquid(HYPE)$29.6613.46%
  • avalanche-2Avalanche(AVAX)$23.465.36%
  • stellarStellar(XLM)$0.2952193.51%
  • shiba-inuShiba Inu(SHIB)$0.0000153.68%
  • hedera-hashgraphHedera(HBAR)$0.1978412.37%
  • unus-sed-leoUNUS SED LEO(LEO)$8.901.12%
  • bitcoin-cashBitcoin Cash(BCH)$413.435.53%
  • the-open-networkToncoin(TON)$3.112.03%
  • polkadotPolkadot(DOT)$4.782.99%
  • litecoinLitecoin(LTC)$97.684.00%
  • moneroMonero(XMR)$395.2311.41%
  • bitget-tokenBitget Token(BGB)$5.292.28%
  • piPi(PI)$0.849.93%
  • pepePepe(PEPE)$0.0000145.20%
  • daiDai(DAI)$1.000.02%
  • ethena-usdeEthena USDe(USDE)$1.000.01%
  • bittensorBittensor(TAO)$458.4110.40%
  • uniswapUniswap(UNI)$6.325.61%
  • aaveAave(AAVE)$251.55-2.61%
  • nearNEAR Protocol(NEAR)$2.894.12%
  • aptosAptos(APT)$5.324.30%
  • okbOKB(OKB)$52.771.45%
  • ondo-financeOndo(ONDO)$0.995.51%
  • ethereum-classicEthereum Classic(ETC)$19.275.28%
  • kaspaKaspa(KAS)$0.1110911.82%
  • official-trumpOFFICIAL TRUMP(TRUMP)$14.422.73%
  • internet-computerInternet Computer(ICP)$5.393.37%
  • gatechain-tokenGateToken(GT)$21.952.47%
  • crypto-com-chainCronos(CRO)$0.0984322.49%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.2462636.71%
  • vechainVeChain(VET)$0.0295914.97%
  • render-tokenRender(RENDER)$4.834.72%
  • mantleMantle(MNT)$0.74-0.21%
  • ethenaEthena(ENA)$0.4021558.64%
  • usd1World Liberty Financial USD(USD1)$1.000.04%
  • arbitrumArbitrum(ARB)$0.4152715.98%
  • algorandAlgorand(ALGO)$0.2318904.34%
  • filecoinFilecoin(FIL)$2.985.36%