{"id":433954,"date":"2022-04-19T12:54:25","date_gmt":"2022-04-19T09:54:25","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-hodlers-targeting-100k-is-whats-preventing-40-price-drawdown-data-suggests\/"},"modified":"2022-04-19T12:54:25","modified_gmt":"2022-04-19T09:54:25","slug":"bitcoin-hodlers-targeting-100k-is-whats-preventing-40-price-drawdown-data-suggests","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-hodlers-targeting-100k-is-whats-preventing-40-price-drawdown-data-suggests\/","title":{"rendered":"# Bitcoin hodlers targeting $100K is what&#8217;s preventing 40% price drawdown, data suggests"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3fbf3132e33\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3fbf3132e33\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-hodlers-targeting-100k-is-whats-preventing-40-price-drawdown-data-suggests\/#%E2%80%9D_Bitcoin_hodlers_targeting_100K_is_whats_preventing_40_price_drawdown_data_suggests_%E2%80%9C\" >&#8221; Bitcoin hodlers targeting $100K is what&#8217;s preventing 40% price drawdown, data suggests &#8220;<\/a><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-hodlers-targeting-100k-is-whats-preventing-40-price-drawdown-data-suggests\/#No_major_selling_from_%E2%80%9Cmaturing%E2%80%9D_hodlers\" >No major selling from &#8220;maturing&#8221; hodlers<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-hodlers-targeting-100k-is-whats-preventing-40-price-drawdown-data-suggests\/#Plenty_of_cold_feet_over_Q2_price_action\" >Plenty of cold feet over Q2 price action<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Bitcoin_hodlers_targeting_100K_is_whats_preventing_40_price_drawdown_data_suggests_%E2%80%9C\"><\/span>&#8221; Bitcoin hodlers targeting $100K is what&#8217;s preventing 40% price drawdown, data suggests &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-2a0745c6>Bitcoin (BTC) dropping to $25,000 or lower is unlikely thanks to hodlers hoping for all-time highs, not speculative traders, new research says.<\/p>\n<p>In a <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/therationalroot\/status\/1516321975307849729\">series of tweets<\/a> on April 19, popular analyst Root argued that there is \u201cno real reason\u201d for a dramatic Bitcoin sell-off.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"No_major_selling_from_%E2%80%9Cmaturing%E2%80%9D_hodlers\"><\/span>No major selling from &#8220;maturing&#8221; hodlers<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Bitcoin has yet to wow the market with its all-time highs this halving cycle, and this has contributed to a loss of faith among some investors.<\/p>\n<p>At the same time, on-chain indicators remain much more bullish than spot price action, and those investors still in the market support the idea that BTC\/USD will go far higher in the future.<\/p>\n<p>This is thanks to a lack of short-term holders (STHs) on the market, Root notes. Even the most recent all-time highs of $69,000 last November came with relatively few speculatory bets \u2014 something which contrasts strongly with the all-time high during the last halving cycle in December 2017.<\/p>\n<p>What is more, it is long-term holders (LTHs) hoping for fresh price discovery who are now supporting the market, not new STHs looking to \u201cbuy the dip.\u201d<\/p>\n<p>\u201cWith the HODL Army growing it&#8217;s allowing us to make new ATH&#8217;s (69k top) without barely any STH&#8217;s in the market,\u201d Root explained. <\/p>\n<blockquote><p>\u201cSince we didn&#8217;t reach prices above 100K, which so many expected, many still believe this will eventually h<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>en and might therefore hold on to their coins.\u201d<\/p><\/blockquote>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-04\/616c8f7d-7a6a-4059-a59e-94b8b568d694.png\" alt=\"\" title=\"\"><figcaption style=\"text-align: center;\"><em>Bitcoin hodled or lost coins chart. Source: <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/glassnode.com\/\">Glassnode<\/a><\/em><\/figcaption><\/figure>\n<p>As such, Bitcoin\u2019s <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/stats.buybitcoinworldwide.com\/realized-price\/\">realized price<\/a> \u2014 the average price at which all coins last moved \u2014 at around $25,000 seems an unlikely target thanks to LTHs\u2019 unwillingness to sell. <\/p>\n<p>While some chose to do so recently, this was thanks to them buying in at highs earlier in 2021 and wanting to cut their losses, Root continued. More broadly, however, those who purchased during Bitcoin\u2019s first <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/trip-and-travel\/\" data-internallinksmanager029f6b8e52c=\"10\" title=\"Trip &amp; Travel\" target=\"_blank\" rel=\"noopener\">trip<\/a> above $60,000 have chosen to hodl, not sell.<\/p>\n<p>\u201cConclusion: Some exhaustion coming from the people that bought the run to first 64k peak, but many still holding,\u201d the <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> thread read. <\/p>\n<blockquote><p>\u201cOlder LTH&#8217;s mainly holding strong. No real reason to see a drop below realised price.\u201d<\/p><\/blockquote>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-04\/2f3e8d42-943a-45fd-a294-e86172643adc.png\"><figcaption style=\"text-align: center;\"><em>Bitcoin realized price chart. Source: BuyBitcoinWorldwide<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"Plenty_of_cold_feet_over_Q2_price_action\"><\/span>Plenty of cold feet over Q2 price action<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>As Cointelegraph reported, some market participants remain extremely wary about a capitulation event occurring in the coming months for Bitcoin.<\/p>\n<p><strong><em>Related:\u00a0BTC could drop to $30K in 2 weeks, trader warns as gold goes for $2K high<\/em><\/strong><\/p>\n<p>Driven by macro, this could see $30,000 return, or worse, the 200-week moving average at $21,000 coming in as support.<\/p>\n<p>All depends on the United States Federal Reserve and its reaction to inflation, they say, this far from clear thanks to the limited scope for containment measures.<\/p>\n<p>Should heavy-handed policy become the norm, however, stocks, commodities and risk assets would be hit hard \u2014 heavy headwinds for crypto.<\/p>\n<p class=\"post-content__disclaimer\">The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.\n<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\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-hodlers-targeting-100k-is-what-s-preventing-40-price-drawdown-data-suggests\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Bitcoin hodlers targeting $100K is what&#8217;s preventing 40% price drawdown, data suggests &#8220; Bitcoin (BTC) dropping to $25,000 or lower is unlikely thanks to hodlers hoping for all-time highs, not speculative traders, new research says. In a series of tweets on April 19, popular analyst Root argued that there is \u201cno real reason\u201d for&#8230;<\/p>\n","protected":false},"author":1,"featured_media":433955,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDQvZjhiNzI0ZjktMzhkOS00ZjEwLWE1ZDMtMWRmZWNlY2M4NzQ2LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,76643,73785],"class_list":["post-433954","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-price","tag-hodl","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/433954","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=433954"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/433954\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/433955"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=433954"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=433954"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=433954"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}