Despite the data, misleading narratives persist,” CryptoQuant contributor “onchained,” said in a March 22 market report.“Such claims often lack onchain validation and are driven by sensationalist market sentiment rather than objective analysis,” the analyst said, adding:“Trust data, not noise, verify sources and cross-check onchain metrics.”Onchained pointed to the recent movements of Bitcoin (BTC) long-term holders (LTH) — those holding for over 155 days — as an example of false narratives clashing with real data.
Source: Tomas GreifMN Trading Capital founder Michael van de Poppe said in a March 22 X post, “I assume that we can erase the entire 4-year cycle theory and that we’re in a longer cycle for Altcoins.” Related: Crypto markets will be pressured by trade wars until April: AnalystEchoing a similar sentiment, Bitwise Invest chief investment officer Matt Hougan recently said that “the traditional four-year cycle is over in crypto” due to the recent change in the US government’s stance.“Crypto has moved in four-year cycles since its earliest days. But the change in DC introduces a new wave that will play out over a decade,” Hougan said.
Narratives are always being challengedCrypto analytics platform Glassnode recently made a similar observation based on data, saying, “Long-Term Holder activity remains largely subdued, with a notable decline in their sell-side pressure.”Crypto market narratives are constantly changing and being challenged.
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Author / Journalist: Cointelegraph by Ciaran Lyons
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