Bitcoin (BTC) 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.
“Although the share of wealth held by investors who bought $BTC 3–5 years ago has declined by 3 percentage points since its November 2024 peak, it remains at historically elevated levels,” it said.
“This suggests that the majority of investors who entered between 2020 and 2022 are still holding.”
Bitcoin Realized Cap HODL