The data shows that the rise in the price of Bitcoin to USD 10,000 has not made Bitcoin holders change their minds.

Maybe the price of Bitcoin (BTC) only been in the $ 10,000 in a matter of hours, but according to Glassnode, a chain monitoring resource, this movement was not like the others of the year 2020.

On July 26 Glassnode uploaded surprising data on Bitcoin’s latest journey to five figures and suggested that the current rise above $ 10,000 will be very different from the last.

Bitcoin holders are in no rush to sell for $ 10,000

Como Cointelegraph reported, the BTC / USD pair suddenly beat the last remaining resistance below $ 10,000 on Sunday, reaching highs of $ 10,200.

The movement was short-lived, and Bitcoin’s price then fell to hit $ 9,900 as of press time.

7-day chart for the BTC / USD pair. Source: Coin360

Bitcoin has topped $ 10,000 multiple times in 2020, but Glassnode’s analysis suggests that this time differs from the rest due to the indicator Bitcoin days destroyed.

Bitcoin days destroyed It is a measure of the value of each Bitcoin transaction, taking into account the time that has passed since the coins involved last moved.

Previously, jumps above $ 10,000 resulted in an increase in the Bitcoin days destroyed metric, suggesting that long-term holders were using the opportunity to trade or sell.

So far, however, optimism over the weekend has yet to repeat the trend.

“In contrast to the last two times that the price of Bitcoin reached $ 10,000, we haven’t seen an increase in Bitcoin days destroyed todayGlassnode summed up.

24-hour chart of the Bitcoin days destroyed. Source: Glassnode / Twitter

Cryptocurrency gains over the weekend surprise markets

The cautious optimism that Bitcoin is destined for higher levels It has become a topic in itself among traders in recent months.

For example, when PayPal sparked crypto acceptance rumors in June, the conversation immediately focused on Bitcoin’s potential to reach not only $ 10,000, but up to $ 12,000 short term.

The fundamentals of the network remain encouraging, while Sunday’s momentum stands in stark contrast to the compression pattern that Bitcoin showed in the previous weeks. A cycle of higher ups and downs has placed the BTC / USD pair in a narrowing corridor that analysts agreed should break soon..

The Altcoins were equally on the rise that day, with Ether (ETH) breaking the firm resistance of 280 dollars in a move that surprised even more than Bitcoin. At press time, levels were around $ 310.

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