Hodlers Are Unfazed Amidst Speculator Risk Off

Market Update

Today was yet another volatile day for crypto. There was a furious leg down during the Asian open, followed by a V-shaped recovery. Since then, markets have been choppy and indecisive.

Long Term Holders Are Unfazed

• Despite experiencing a heavy sell-off over the last few days, long-term holders seem to be unfazed and continue to HODL.
• According to Glassnode’s on-chain data, this cohort continues to accumulate. Therefore, this leg down was likely caused by speculators taking a risk-off stance in anticipation of mac