Bitcoin Sells at $109K—Why It’s Not the Cycle Peak Yet

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Bitcoin midterm holders — even those with a cost basis at around $3,600 — are still refusing to sell despite major profits and BTC price volatility.

Bitcoin investors who bought BTC in 2020 or later are still waiting for higher prices, new research says.

In findings published on X on April 1, onchain analytics firm Glassnode revealed that $110,000 was not high enough to make many hodlers sell.

Glassnode: 2020 Bitcoin buyers “still holding”
Bitcoiners who entered the market between three and five years ago have retained their holdings despite significant BTC price upside.

According to Glassnode, this investor cohort, with a cost basis between the 2020 lows of $3,600 and the 2021 highs of $69,000, is still hodling.


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