{"id":329590,"date":"2021-08-24T13:53:03","date_gmt":"2021-08-24T10:53:03","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-transactions-stay-low-despite-price-rally-data\/"},"modified":"2021-08-24T13:53:03","modified_gmt":"2021-08-24T10:53:03","slug":"bitcoin-transactions-stay-low-despite-price-rally-data","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-transactions-stay-low-despite-price-rally-data\/","title":{"rendered":"# Bitcoin transactions stay low despite price rally: Data"},"content":{"rendered":"<p>&#8220;<strong># Bitcoin transactions stay low despite price rally: Data <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-128018ef>Despite Bitcoin (BTC) price growing 45% over the past 30 days, cryptocurrency investors are not moving their holdings, according to new data.<\/p>\n<p>Blockchain analytics provider Glassnode <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/insights.glassnode.com\/the-week-on-chain-week-34-2021\/?utm_source=newsletter&amp;utm_medium=twitter&amp;utm_campaign=twoc_34\">released<\/a>\u00a0its new \u201cThe Week On Chain\u201d report on Monday, noting that Bitcoin has continued rallying to new multi-month highs despite divergence in on-chain activity during the week ending on Aug. 23.<\/p>\n<p>The report discovered that Bitcoin on-chain activity like the amount of entity-adjusted transactions has still not responded to the ongoing bullish action, remaining at historically low levels of between 175,000 and 200,000 daily transactions. Bitcoin on-chain activity dropped this low after May 2021\u2019s crypto market crash and hasn\u2019t risen above this level since.<\/p>\n<p>The number of Bitcoin transactions was this low only a few times in the past five years, including the 2016 to 2017 bull run in which\u00a0Bitcoin hit $20,000 for the first time. The same level was also recorded during the 2018 to 2019 bear market as the Bitcoin price plummeted 85% from the then all-time high.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-08\/3cb10e88-055b-4f01-a7ab-263a3cb19400.png\"><figcaption style=\"text-align: center;\"><em>Source: Glassnode<\/em><\/figcaption><\/figure>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Bitcoin price tags $50K for first time since May<\/em><\/strong><\/p>\n<p>Despite a significant discrepancy between rising prices and low on-chain activity, the overall supply dynamics have remained quite bullish, Glassnode reported. This week, the Bitcoin supply held by long-term holders has reached an all-time high of 12.69 million BTC, surpassing the previous record posted in October 2020.\u00a0<\/p>\n<p>In early August, Glassnode reported that Bitcoin\u2019s 50% downside correction in May might not be as alarming as it was in 2018 due to strong \u201chodling behavior.\u201d<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/bitcoin-transactions-stay-low-despite-price-rally-data\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Bitcoin transactions stay low despite price rally: Data &#8221; Despite Bitcoin (BTC) price growing 45% over the past 30 days, cryptocurrency investors are not moving their holdings, according to new data. Blockchain analytics provider Glassnode released\u00a0its new \u201cThe Week On Chain\u201d report on Monday, noting that Bitcoin has continued rallying to new multi-month highs&#8230;<\/p>\n","protected":false},"author":1,"featured_media":329591,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDgvMDNjYTRlZDEtNWYyMy00NDA1LTkwNTktMjRiN2YyNWU4MmUzLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[79806,74862,74937,74894,74880,61514,4965],"class_list":["post-329590","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-analysis","tag-bitcoin","tag-bitcoin-price","tag-blockchain","tag-transactions","tag-research","tag-technology"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/329590","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=329590"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/329590\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/329591"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=329590"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=329590"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=329590"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}