Every year, a new set of hands takes possession of Bitcoin (BTC). A greater cost basis is still an issue for subsequent buyer cohorts, even if the long-term holding perspective has been shown for 16 years. As some long-term Bitcoin holders sell their holdings, their ownership changes. Thanks to the $108K rise, some of the older investors made a profit.
Bitcoin Base Cost Exceeds
All Bitcoin holders’ average cost basis exceeded $40K in the second half of 2024. Earlier in the year, the cost basis rose to $23,000. The cost basis is rising slower due to the long accumulation time in protracted downturn markets. Buyers may have different goals and timeframes. Short-term whales seeking short-term benefits remain unknown. Bitcoin Ownership Changes Accumulation growsGrowing Bitcoin Accumulation: Recent buyers include ETF deals, mystery whales, and renewed purchases, increasing Bitcoin accumulation.
Bitcoin accumulation rises
A hold wave in crypto quant data indicates that recent cohorts rapidly increased their holdings. This indicates Bitcoin’s long-term growth and accumulation. Despite short-term uncertainty, including whales locking in gains, the market is optimistic for Q1 2025, suggesting further price increases.
Bitcoin ownership changes ETF agreements; large whales and institutional players like MicroStrategy and Mara Holdings increase accumulation. Long-term confidence is shown by the rising average cost basis. Recent buyers are increasing holdings, indicating a positive Bitcoin price outlook.
Holders Win, Miners Stay
According to Glassnode data, short-term holders gained 10% as Bitcoin rose to $98,513. A low short-term holder index of 1.1% means short-term holders aren’t losing much despite holding a tight margin. This support index, usually at 1.0, suggests Bitcoin may hold above $87,000.Miners stabilize the market during this upward trend while corporate treasuries pause Bitcoin acquisitions. Short-term holders benefit from Bitcoin’s latest price spike to $98,513, albeit barely. A low short-term holder index of 1.1% indicates stability; treasuries delay acquisitions.
Summary
As a result of the $108K increase, long-term investors are liquidating some of their Bitcoin holdings. In the second half of 2024, the cost base for new buyer cohorts soared to over $40K. Subsequent purchasers are quickly increasing their spending despite the consistent expansion. Institutional investors, whales, and exchange-traded funds (ETFs) like MicroStrategy and Mara Holdings are driving this accumulation trend, which suggests Bitcoin will develop over the long run. Short-term holders have made moderate gains while.
