The ownership of Bitcoin (BTC) changes at the beginning of the year. The new buyer cohorts still have to contend with a higher cost basis, even after 16 years have demonstrated the long-term holding perspective. Ownership of Bitcoin is changing as long-time holders sell off some of their holdings. Some of the older holders experienced gains due to the $108K surge.
Bitcoin Cost Basis Exceeds
The average cost basis for all Bitcoin holders rose to over $40K in the second half of 2024. Prior to that, at the start of the year, the cost basis gradually increased to about $23,000. Due to the lengthy accumulation time throughout the protracted downturn markets, the cost basis is increasing more slowly.
The time horizons and motivations of each of those purchasers may differ. Short-term whales looking to lock in short-term gains continue to be the big unknown.BitcoinOwnership Shifts Accumulation Accumulation GrowsBitcoin Accumulation GrowsBitcoin accumulation is on the rise, with recent buyers including ETF agreements, unknown whales, and renewed purchases.
Bitcoin Accumulation Surges
Crypto quant data shows a hold wave indicating that recent cohorts rapidly increased their holdings. This trend suggests continued accumulation, with Bitcoin staying in a long-term growth phase. Despite short-term uncertainty, including whales locking in gains, the market remains optimistic for Q1 2025, potentially signalling further price increases.
Bitcoin Ownership Shifts Accumulation accumulation continues to strengthen as ETF agreements, large whales, and institutional players like MicroStrategy and Mara Holdings add to their positions. The average cost basis has steadily increased, reflecting long-term confidence. The pattern confirms that recent buyers are expanding holdings, suggesting a positive outlook for Bitcoin’s price.
Gains for Holders Miners Stay
Bitcoin surged to $98,513, providing short-term holders with an average unrealized gain of 10%, according to Glassnode data. Despite holding with a thin margin, short-term holders aren’t facing significant losses, as the short-term holder index remains low at 1.1%. Typically monitored at the 1.0 level, this index acts as support, suggesting Bitcoin may stay above $87,000.
While corporate treasuries have paused Bitcoin acquisitions, miners remain a stabilizing force in the market during this upward trend. Bitcoin’s recent price surge to $98,513 has benefited short-term holders, who are seeing modest gains despite a thin margin. The short-term holder index remains low at 1.1%, signalling stability treasuries pause acquisitions.
Summary
After the $108K increase, long-term investors are selling off chunks of their Bitcoin Ownership Shifts Accumulation holdings. New buyer cohorts’ cost base rose to over $40K in the second half of 2024. Despite the steady growth, subsequent buyers are ramping up swiftly. This accumulating pattern, driven by ETFs, whales, and institutional players like MicroStrategy and Mara Holdings, indicates long-term Bitcoin development. Short-term holders have made moderate gains while.
