First Mover Asia: Bitcoin 'minnows,' with 10 BTC or less, are hodling through some intense volatility, glassnode research shows. BTC was holding around $41,500, while APE surged on rumors. thesamreynolds, DantesOutlook, Liqquidity report.
After January’s price correction, which seemed dramatic by many standards but par for the course for crypto traders, bitcoin"minnows" beganAll the while, the number of wallets with a bitcoin balance of 100-1,000 declined, suggesting a selloff by larger holders., these"minnows" also have a fierce appetite for pain and are hodling their crypto through some intense volatility and price compression even though their coins have yet to experience a breakout.
Glassnode notes that investors that bought the top, those active between August 2021 and January 2022, have seen prices plunge beneath their cost basis and have dumped bitcoin causing a “large scale redistribution of the bitcoin supply to new hands.”At the same time, Glassnode observes that those that purchased bitcoin in the last week of January — the minnows — are still hodling.
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