{"id":494210,"date":"2022-09-19T08:25:00","date_gmt":"2022-09-19T05:25:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/biggest-fed-rate-hike-in-40-years-5-things-to-know-in-bitcoin-this-week\/"},"modified":"2022-09-19T08:25:00","modified_gmt":"2022-09-19T05:25:00","slug":"biggest-fed-rate-hike-in-40-years-5-things-to-know-in-bitcoin-this-week","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/biggest-fed-rate-hike-in-40-years-5-things-to-know-in-bitcoin-this-week\/","title":{"rendered":"# Biggest Fed rate hike in 40 years? 5 things to know in Bitcoin this week"},"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-6a3ad7251ecc9\" 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-6a3ad7251ecc9\" 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\/biggest-fed-rate-hike-in-40-years-5-things-to-know-in-bitcoin-this-week\/#%E2%80%9D_Biggest_Fed_rate_hike_in_40_years_5_things_to_know_in_Bitcoin_this_week_%E2%80%9C\" >&#8221; Biggest Fed rate hike in 40 years? 5 things to know in Bitcoin this week &#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\/biggest-fed-rate-hike-in-40-years-5-things-to-know-in-bitcoin-this-week\/#Fed_rate_hike_%E2%80%9Csledgehammer%E2%80%9D_in_focus\" >Fed rate hike &#8220;sledgehammer&#8221; in focus\u00a0<\/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\/biggest-fed-rate-hike-in-40-years-5-things-to-know-in-bitcoin-this-week\/#Spot_price_sinks_after_poor_weekly_close\" >Spot price sinks after poor weekly close<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/buradabiliyorum.com\/en\/biggest-fed-rate-hike-in-40-years-5-things-to-know-in-bitcoin-this-week\/#US_dollar_coils_beneath_multi-decade_peak\" >U.S. dollar coils beneath multi-decade peak<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/buradabiliyorum.com\/en\/biggest-fed-rate-hike-in-40-years-5-things-to-know-in-bitcoin-this-week\/#Ethereum_gets_the_post-Merge_blues\" >Ethereum gets the post-Merge blues<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/buradabiliyorum.com\/en\/biggest-fed-rate-hike-in-40-years-5-things-to-know-in-bitcoin-this-week\/#Dormant_Bitcoin_supply_continues_to_age\" >Dormant Bitcoin supply continues to age<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Biggest_Fed_rate_hike_in_40_years_5_things_to_know_in_Bitcoin_this_week_%E2%80%9C\"><\/span>&#8221; Biggest Fed rate hike in 40 years? 5 things to know in Bitcoin this week &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-6ebd806f>Bitcoin (BTC) faces another week of \u201chuge\u201d macro announcements after the lowest weekly close since July.<\/p>\n<p>After days of losses following the latest inflation data from the United States, BTC\/USD, like altcoins and risk assets more broadly, has failed to recover.<\/p>\n<p>The largest cryptocurrency has yet to flip $20,000 to convincing support, and as the third full week of September begins, the danger is once again that that level could function as resistance.<\/p>\n<p>Bulls have plenty to worry about \u2014 the coming days will see the Federal Reserve decide on the next key rate hike, something that will affect the market far beyond mere sentiment.<\/p>\n<p>In addition, the aftermath of the Ethereum (ETH) Merge continues to play out, while at defunct exchange Mt. Gox, reimbursements to creditors add another potential cloud to the Bitcoin price landscape. <\/p>\n<p>Cointelegraph takes a look at five potential market-moving factors to keep an eye on in Bitcoin over the coming week.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Fed_rate_hike_%E2%80%9Csledgehammer%E2%80%9D_in_focus\"><\/span>Fed rate hike &#8220;sledgehammer&#8221; in focus\u00a0<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The main event for the week comes in the form of the Federal Reserve\u2019s decision on key interest rates.<\/p>\n<p>After the Consumer Price Index (CPI) print for August came in \u201chotter\u201d than expected, the Fed will be under pressure to respond.<\/p>\n<p>As such, the market has now fully priced in a minimum 75-basis-point hike for the Fed funds rate, and is not discounting the chances of 100 basis points, according to the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.cmegroup.com\/trading\/interest-rates\/countdown-to-fomc.html\">CME FedWatch Tool<\/a> as of Sep. 19.<\/p>\n<p>A 100-point increase would be the Fed\u2019s first such action since the early 1980s.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-09\/c5089458-95dc-4612-a869-6a0964dc91b7.png\"><figcaption style=\"text-align: center;\"><em>Fed target rate probabilities chart as of Sep. 19, 2022. Source: CME Group<\/em><\/figcaption><\/figure>\n<p>The Federal Open Market Committee (FOMC) is due to meet on Sep. 20-21, and will publish a statement confirming the hike and Fed support for the figure involved.<\/p>\n<p>\u201cThe Fed will not be easing any time soon, and it\u2019s classic human nature because now we have the benefit of knowing how far in the mistakes they made by easing too much,\u201d Mike McGlone, senior commodity strategist at Bloomberg Intelligence, said in an <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=kSGbC1bhmOo\">interview<\/a> with Kitco over the weekend.<\/p>\n<p>Risk asset growth since the March 2020 crash had \u201cswung way too far to one side,\u201d he said, and it is now \u201cvery clear\u201d that a reversal will take hold.<\/p>\n<p>Crypto will figure in the overall market reset, and Bitcoin will ultimately come out ahead, McGlone continued, reiterating a long-held theory about the cryptocurrency\u2019s future. Gold will also outperform, but for both, pain is to come first.<\/p>\n<p>\u201cUnfortunately, for the Fed to stop this sledgehammer, risk assets have to make them stop by tightening for them,\u201d he summarized.<\/p>\n<p>A 100-basis-point move this week would hasten that process, which is now seeing catalysts from central banks beyond the U.S. after these were initially slow to begin raising rates to combat inflation.<\/p>\n<p>Popular <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> analytics account <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/game\/\" data-internallinksmanager029f6b8e52c=\"7\" title=\"Game\" target=\"_blank\" rel=\"noopener\">Game<\/a>s of Trades meanwhile said that it was crunch time for the S&amp;P 500 ahead of the start of Wall Street trading.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/SP500?src=hash&amp;ref_src=twsrc%5Etfw\">#SP500<\/a> has reached its \u201cline in the sand\u201d level.<\/p>\n<p>This is the point of sink-or-swim. Fly-or-fall. Fish-or-cut-bait. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/ZaCfAfcHcE\">pic.twitter.com\/ZaCfAfcHcE<\/a><\/p>\n<p>\u2014 Game of Trades (@GameofTrades_) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/GameofTrades_\/status\/1571499307928236032?ref_src=twsrc%5Etfw\">September 18, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>\u201cIn times like this, with major uncertainty across the board, the Crypto market is not gonna do much without permission from equities,\u201d analyst and commentator Kevin Svenson <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/KevinSvenson_\/status\/1571524638991175680\">added<\/a>.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Spot_price_sinks_after_poor_weekly_close\"><\/span>Spot price sinks after poor weekly close<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The past week has seen tailwinds stack up for Bitcoin, leading to BTC price action falling in kind.<\/p>\n<p>BTC\/USD lost over $2,000 in a single weekly candle, closing below $20,000 in what is the lowest such close since July, data from Cointelegraph Markets Pro and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/?exchange=BINANCE\">TradingView<\/a> shows.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-09\/040bf73f-1d10-421c-956e-34560c573c6c.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD 1-week candle chart (Bitstamp). Source: TradingView<\/em><\/figcaption><\/figure>\n<p>The close was followed by a sharp downturn in which the pair fell under $19,000.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-09\/fb3cc1e2-0110-43c6-884f-af751b3ba0bc.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD 1-hour candle chart (Bitstamp). Source: TradingView<\/em><\/figcaption><\/figure>\n<p>The bearish mood is perhaps understandable \u2014 the Ethereum Merge became a \u201csell the <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a>\u201d event, and along with macro triggers contributed to a fresh risk asset flight.<\/p>\n<p>Now, analysts are considering the chances of the downtrend staying in place at least until the Fed rate announcement passes.<\/p>\n<p>\u201cBTC has chopped through the weekend, but there&#8217;s always potential for some volatility before the close,\u201d on-chain analytics resource Material Indicators <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/MI_Algos\/status\/1571529676568363010\">told<\/a> Twitter followers in part of a post on Sep. 18. <\/p>\n<blockquote><p>\u201cHuge economic and FED announcements next week will make things spicy again.\u201d<\/p><\/blockquote>\n<p>An accompanying chart showed the state of play on the Binance order book, with support at around $19,800 since failing to sustain price action.<\/p>\n<p>The day prior, Material Indicators had reasoned that there was likewise little point in imagining that a deeper drop would be avoided. Judging from the order book, bidding action was still not strong enough to support current levels.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">If <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> was really near THE BOTTOM, do you think there would be a liquidity gap between $18k &#8211; $18.5k, and wouldn&#8217;t you also expect there to be solid bids at least to the June low at $17.5k? <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/FireCharts?src=hash&amp;ref_src=twsrc%5Etfw\">#FireCharts<\/a><\/p>\n<p>I have no more questions. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/Xstusqg2T8\">pic.twitter.com\/Xstusqg2T8<\/a><\/p>\n<p>\u2014 Material Indicators (@MI_Algos) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/MI_Algos\/status\/1570825046217850881?ref_src=twsrc%5Etfw\">September 16, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Considering when a macro bottom could occur, meanwhile, popular trader Cheds bet on Q4 this year, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/BigCheds\/status\/1571623910193389577\">describing<\/a> Bitcoin as \u201cright on track\u201d to do so.<\/p>\n<p>\u201c$BTC weekly starting to press range lows,\u201d he <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/BigCheds\/status\/1571554250479603714\">added<\/a> in a further tweet into the weekly close. <\/p>\n<p>Shorts were stacking up at the time of writing on both Binance and FTX, suggesting a concerted effort to drive the market lower by derivatives traders. This, fellow popular account Ninja <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Ninjascalp\/status\/1571630873207865347\">argued<\/a>, would not ultimately be successful beyond the Wall Street open.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"US_dollar_coils_beneath_multi-decade_peak\"><\/span>U.S. dollar coils beneath multi-decade peak<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Keenly eyeing a potential macro high, meanwhile, is the U.S. dollar, which has rebounded from losses seen post CPI print. <\/p>\n<p>A classic headwind for crypto, the U.S. dollar index (DXY) currently sits at just under 110, having consolidated for several days. <\/p>\n<p>The Index hit 110.78, its highest since 2002, earlier this month, while avoiding enduring significant retracements.<\/p>\n<p>Analyzing the immediate future last week, Hyland warned that a \u201cnew blow off top\u201d for DXY would accompany a \u201ccapitulation event\u201d in risk assets.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">We are heading toward a capitulation event <\/p>\n<p>-Gold<br \/>-BTC<br \/>-Stocks<\/p>\n<p>We are also heading toward a blow off top of the US Dollar<\/p>\n<p>When? No clue but there is nothing that says the DXY has topped <\/p>\n<p>It&#8217;s actually currently in position for the highest weekly close of the year: <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/UHrJfYsSQP\">pic.twitter.com\/UHrJfYsSQP<\/a><\/p>\n<p>\u2014 Matthew Hyland (@MatthewHyland_) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/MatthewHyland_\/status\/1570490884344643585?ref_src=twsrc%5Etfw\">September 15, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>A look at the inverse correlation between DXY and BTC\/USD meanwhile confirms the impact of sharp upwards moves of the former on the latter.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-09\/fbe5b9ff-8b0c-43e4-873f-860f013ef4bd.png\"><figcaption style=\"text-align: center;\"><em>U.S. dollar index (DXY) vs. BTC\/USD 1-day chart. Source: TradingView<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"Ethereum_gets_the_post-Merge_blues\"><\/span>Ethereum gets the post-Merge blues<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>In the week after the much-vaunted Merge, Ethereum is experiencing a major comedown from the hype.<\/p>\n<p>In a move which may skew market cap share back in Bitcoin\u2019s favor, ETH\/USD declined 25% last week.<\/p>\n<p>Currently trading under $1,300, its lowest since July 16, the pair is seeing bearish prognoses from analysts and traders across the board.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-09\/62694a11-e88f-4246-91ae-38f7b8c6364f.png\"><figcaption style=\"text-align: center;\"><em>ETH\/USD 1-hour candle chart (Binance). Source: TradingView<\/em><\/figcaption><\/figure>\n<p>\u201cEthereum failing to hold critical support,\u201d Svenson <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/KevinSvenson_\/status\/1571608708060426240\">warned<\/a> as the weekly close failed to draw a line under the losses.<\/p>\n<p>Analyst Matthew Hyland meanwhile gave a <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/MatthewHyland_\/status\/1571609938979598336\">target<\/a> of $1,000 for ETH\/USD, adding that $1,250 \u201cshould hold as some support.\u201d<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$ETH<\/a> There is also the grab of the $1355 low as I mentioned would be a good level to take out.<\/p>\n<p>Will the bulls be able to run it back?<\/p>\n<p>A 4H close above $1355 would be decent for the bulls. If not, I&#8217;d be targetting $1285 next. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/LZACSzzJok\">https:\/\/t.co\/LZACSzzJok<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/Za2Ln5ydgj\">pic.twitter.com\/Za2Ln5ydgj<\/a><\/p>\n<p>\u2014 Daan Crypto Trades (@DaanCrypto) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/DaanCrypto\/status\/1571609275226791941?ref_src=twsrc%5Etfw\">September 18, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Against BTC, Ethereum was down up to 19% over the week, with Bitcoin\u2019s share of the overall crypto market cap increasing 1.2% since Sep. 14.<\/p>\n<p>For well-known trader CryptoGodJohn, everything was nonetheless <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CryptoGodJohn\/status\/1571612736542449669\">playing out<\/a> for a \u201cgenerational entry\u201d opportunity on the pair.<\/p>\n<p>Less enthusiastic was Samson Mow, CEO of Bitcoin adoption startup JAN3, who noted that while ETH\/USD was still above its 200-week moving average (WMA) at current levels, Bitcoin was below its own equivalent.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> is trading 16% below its 200 WMA.<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw\">#Ethereum<\/a> is trading 7% above its 200 WMA.<\/p>\n<p>ETH is down 6% for the day, while BTC is just down 2%. ETH is still trading at a premium based on Merge expectations and can go much much lower. ETH 16% below 200 WMA would be ~$1k. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/jh7j13ivMd\">pic.twitter.com\/jh7j13ivMd<\/a><\/p>\n<p>\u2014 Samson Mow (@Excellion) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Excellion\/status\/1571581676664520704?ref_src=twsrc%5Etfw\">September 18, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The 200 WMA functions as an important trendline during crypto bear markets, and reclaiming it after its loss as support has historically signified a return to strength.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Dormant_Bitcoin_supply_continues_to_age\"><\/span>Dormant Bitcoin supply continues to age<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Even as recent price volatility sees an uptick in on-chain activity, hodlers are keeping their resolve, on-chain data confirms. <\/p>\n<p><strong><em>Related:\u00a0Here is why a 0.75% Fed rate hike could be bullish for Bitcoin and altcoins<\/em><\/strong><\/p>\n<p>According to analytics firm Glassnode, coins held for a period of at least five years are showing just one trend \u2014 up.<\/p>\n<p>In fresh data on the day, Glassnode <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/glassnodealerts\/status\/1571593741542072320\/photo\/1\">confirmed<\/a> that the percentage of the BTC supply last active in September 2017 or earlier reached a new all-time high of 24.8%.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-09\/a2fa9f28-8387-47a5-8439-52096df26566.png\"><figcaption style=\"text-align: center;\"><em>Bitcoin % supply last active 5+ years ago chart. Source: Glassnode\/ Twitter<\/em><\/figcaption><\/figure>\n<p>The amount of the supply last active between five and seven years ago, meanwhile, hit its <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/glassnodealerts\/status\/1571608890323902464\">highest<\/a> in almost two years \u2014 1.01 million BTC.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-09\/30a2d237-4efa-44ba-a92e-028ff8ee39d0.png\"><figcaption style=\"text-align: center;\"><em>Bitcoin supply last active 5-7 years ago chart. Source: Glassnode\/ Twitter<\/em><\/figcaption><\/figure>\n<p>At the same time, \u201cyounger\u201d coins are also on the move, with the 6-12 month bracket <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/glassnodealerts\/status\/1571578599353753600\">seeing<\/a> five-month highs of its own.<\/p>\n<p>Nonetheless, the long-term trend among seasoned investors is clear when it comes to Bitcoin, as evidenced by the supply portion held by long-term holders (LTHs).<\/p>\n<p>\u201cLTH Supply is the volume of Bitcoin which has been dormant for 155-days, and is statistically the least likely to be spent during market volatility,\u201d Glassnode <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/glassnode\/status\/1570050015334387716\">explained<\/a> last week as the metric hit all-time highs of 13.62 million BTC.<\/p>\n<p>After the CPI event, as Cointelegraph reported, Bitcoin flows to exchanges saw their largest single-day tally in several months.<\/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<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 News 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\/biggest-fed-rate-hike-in-40-years-5-things-to-know-in-bitcoin-this-week\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Biggest Fed rate hike in 40 years? 5 things to know in Bitcoin this week &#8220; Bitcoin (BTC) faces another week of \u201chuge\u201d macro announcements after the lowest weekly close since July. After days of losses following the latest inflation data from the United States, BTC\/USD, like altcoins and risk assets more broadly, has&#8230;<\/p>\n","protected":false},"author":1,"featured_media":494211,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDkvN2QzYmFjYzQtOWU4OC00ZDU3LTkwNTUtNGI2MTgyMWJmZTcyLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74867,74862,74937,76153,82402,74891,70550,70551,73785],"class_list":["post-494210","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-altcoin","tag-bitcoin","tag-bitcoin-price","tag-dollar","tag-ether-price","tag-ethereum","tag-federal-reserve","tag-inflation","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/494210","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=494210"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/494210\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/494211"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=494210"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=494210"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=494210"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}