In the new ‘Weekly Update‘ by Arcane Research, they analyzed Data provided by Glassnode. This new data shows that long-term hodlers are buying bitcoin during the latest decline.
A metric called the ‘Hodler Net Position Change‘ shows the monthly position change of long-term investors.
When the metric is above zero (green), it means that holders on average are accumulating BTC.
When this metric is below zero (red), it means that holders are selling and most likely taking profits.
Arcane Research saw that the metric dipped below zero in February, as holders stopped accumulating.
However, over the past week, holders have once again started accumulating bitcoin. Could this a sign that BTC is on its way up again?