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Bitcoin Price Soars, But HODLers Still Not Selling – What’s Going On?

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Well, here we are again, watching Bitcoin make its glorious dance toward an all-time high, and yet… the HODLers refuse to budge. It’s like that one uncle at a family BBQ who, even after a few drinks, insists on keeping the grill closed. On-chain data reveals that the HODLing behavior is still alive and well, much to the bewilderment of those who thought they’d see a flurry of activity with the price near its ATH.

Bitcoin Liveliness Has Recently Been Trending Down

The latest weekly report from Glassnode shows something curious. The market seems to be hanging on to their Bitcoin, as if it were some sort of golden ticket. There are two key indicators here: the Long-Term Holder Supply and something called Liveliness. Yes, the “Liveliness”—it sounds like the name of a 90s dance move, but it’s actually much more nerdy.

First off, the Long-Term Holder Supply tracks the Bitcoin sitting comfortably in wallets that belong to those brave souls who’ve held onto their coins for more than 155 days. If you’re one of these folks, you’re called a Long-Term Holder (LTH). Those who’ve held for less than 155 days? Well, they’re the Short-Term Holders (STH). Let’s be real, the STHs are probably the ones with sweaty palms every time the price fluctuates.

Here’s a chart showing just how much the Long-Term Holder Supply has skyrocketed over the past few months. It’s like a Bitcoin boom that nobody saw coming.

As you can see, the LTH Supply has been on a sharp incline recently. This doesn’t mean the LTHs are out buying more Bitcoin. Oh no. It means that some of those short-term holders have grown up and graduated to the LTH club. They’ve been holding for longer than 155 days, proving their HODLing mettle. It’s like watching a kid turn into an adult, but without the annoying existential crisis.

Now, this little transition has led to the LTH Supply hitting an all-time high (ATH) of 14.7 million BTC. Yes, you heard that right. The HODLers are still the dominant force in this market, refusing to give in to the temptation to sell, even with prices soaring. According to Glassnode, “HODLing remains the dominant market behavior.” Basically, everyone’s sitting tight, just waiting for the next big wave.

Here’s a twist—many of these LTHs bought their Bitcoin above $100,000. And guess what? They’re still holding on! They didn’t flinch when the price dipped. This is like buying an expensive car and refusing to sell it even though it’s gone out of style. Brave, or just stubborn? You decide.

Now, let’s talk about Liveliness. This metric is all about ‘coin days,’ which is just as exciting as it sounds. A coin day is what happens when a coin stays in a wallet for one day. When it moves, those coin days disappear—like a magician’s trick. Liveliness measures the ratio of coin days destroyed to coin days created. It’s basically keeping track of how much action Bitcoin is really seeing on the move.

Here’s the chart that shows how Liveliness has been behaving over the past few months:

The graph makes one thing clear: during past rallies to ATH, HODLers sold. But in this most recent run? Nope. Not much action. The HODLers are keeping it locked up, and only a dramatic price surge might get them to unlock their treasure chests. Just think of them as the digital equivalent of a dragon guarding a hoard of gold.

BTC Price

Bitcoin has already surpassed $110,000, but it has since taken a small dip to $109,700. The drama never stops, folks.

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2025-07-04 13:13

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