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Hodlers Are Unfazed Amidst Speculator Risk Off

Sep 22, 2021 · 3 min read

By Jeremy Ong, and Joo Kian

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 macro and regulatory headline risk factors.

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