Airdrop Army

Long-Term Bitcoin Hodlers Bail as Exposure Shrinks

Bitcoin’s hodler ranks are pulling back fast, trimming billions from their exposure as they keep one foot out the door. According to fresh intel from CryptoQuant, hodlers who’ve kept their BTC locked down for 155+ days are now risk-off. Their realized cap, which measures the value when coins last moved, dropped $6 billion, crashing from $19 billion to $12 billion.

But why are they bailing now, especially when Bitcoin’s fans are still hyped for all-time highs? Aggarwal, a CryptoQuant contributor, thinks these hodlers are just taking some profits, playing it safe while speculators swoop in. With long-term hodlers de-risking, they’re watching from the sidelines, waiting for better price action before jumping back in.

Speculators Snatch the Opportunity, Stack Sats

Meanwhile, speculators—those holding BTC for less than 155 days—are doubling down. They’ve jacked up their BTC buying, increasing exposure by a cool $6 billion. The STH realized cap shot up from negative $17 billion to negative $11 billion, a clear sign they’re not backing down. They’re grabbing the baton from hodlers, clearly hoping to catch Bitcoin’s price momentum before it fizzles out.

So while hodlers offload, these quick-trigger traders are betting that the BTC pump will push prices sky-high. They might not care about long-term risks, but they’re piling in hard to ride the volatility rollercoaster. And these two groups seem to be locked in a tug-of-war as they play opposite games in the crypto market.

The Realized Price Battlefield: Where the Action’s Heating Up

CryptoQuant also zoomed in on Bitcoin’s realized price—a key metric for traders tracking coins that moved in the past week. Right now, BTC/USD is hovering around $62,080, the same zone as the realized price of coins traded between one day and seven days ago.

But, these constant rejections above that level mean something. Traders are glued to this battlefield, watching for price movements. They know Bitcoin’s got weak momentum after trying to push past this key level, so some expect a short-term correction is brewing. As BTC moves through these price corridors, traders on both sides are paying close attention.

On-chain movements are wild, and while hodlers scale back, exchange withdrawals have hit levels last seen in November 2022.