Bitcoin HODL Waves ‘Anomaly’ Raises Doubt Over July Bear-Market Bottom
11 Articles
11 Articles
Cointelegraph
The New York LedgerBitcoin HODL Waves ‘Anomaly’ Raises Doubt Over July Bear-Market Bottom
Bitcoin’s July macro lows under $58,000 drew an unusual response from new buyers, onchain data shows as concerns over the continuation of the bear market continue.
Bitcoin has recorded an on-chain anomaly that, according to analyst Willy Woo, is unprecedented in the nearly 17.5 years of data available from HODL Waves. The signal points to an unusual behavior during the formation of the last price fund: instead of observing a wide and accelerated accumulation among numerous participants, the data [...] The Bitcoin entry reveals an unprecedented anomaly in its on-chain data that was not seen more than 17 yea…
Are cryptocurrencies entering an upward trend? Here's what on-chain data from Glassnode says about Bitcoin's rebound. We find out.
A signal detected by analyst Willy Woo in Bitcoin's HODL Waves does not resemble any pattern observed for 17 years. The absence of purchase peaks suggests a slow accumulation, possibly concentrated in a whale or a small group, although factors such as ETFs, institutional custody and derivatives may also explain behavior.
Bitcoin’s sub‑$58K slide triggers unusual onchain anomaly, shaking buyer confidence
TL;DR Muted Buying: Bitcoin’s slide to $57,800 produced an unusually weak burst of short‑term accumulation, with HODL Waves showing only a small rise in fresh activity despite the macro low. Bearish Structure: Analysts argue Bitcoin still reflects a broader downtrend, warning that a Weekly Close below roughly $78,300 could reinforce bearish market structure and echo May’s breakdown. ETF Momentum: August’s $3.8 billion in US spot Bitcoin ETF inf…
🚨 While Bitcoin was below $58K at the beginning of July, there was no strong bottoming. 📉 On-chain data showed that the appetite for new buying remained limited between July 1 and July 5. 🐋 Willy Woo notes that buying on the $BTC side was a single major...
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