Glassnode: Long-term Bitcoin Investors Have Not Reacted To Recent Price Drop

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Fueled by liquidations in the crypto derivatives market, the sharp pullback in bitcoin’s price last week hasn’t shaken long-term investors’ focus on holding on to the coins they’ve purchased.

Analysts noted that similar equanimity of the holders appeared after a 50% collapse in May, and after a sharp rally from July lows.

The driver of Bitcoin’s fall by $ 10,000 within one hour was the liquidation of 30% of open positions in perpetual contracts, the volume of which amounted to about $ 4 billion. According to experts, 68% of liquidations were longs.

On September 7, a jump in trading volume was recorded on the options market ($ 1.3 billion, a maximum of four months).

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