TechFlow news — On March 21, according to Cointelegraph, amid a recent wave of meme coin scams and macroeconomic uncertainty, speculative enthusiasm in the crypto market is waning as investors shift toward safer digital assets.
Data from Glassnode shows that Bitcoin's "HODL Waves" heat supply metric—measuring coins with a holding period of one week or less—has dropped by more than 50%, falling from 5.9% at the end of November to just 2.3% on March 20. Ryan Lee, Chief Analyst at Bitget Research, said the decline indicates investors are adopting more defensive positions amid recent market volatility:
"During uncertain times, investors not only seek safety but also focus on rational decision-making. In many cases, this rational choice is represented by Bitcoin. This trend stems not just from fear, but reflects a more pragmatic investment approach," Lee explained.
Enmanuel Cardozo, Market Analyst at RWA tokenization platform Brickken, said the cautious stance among crypto investors aligns with sentiment among traditional market participants: "U.S. stock market trends typically set the tone for risk assets like cryptocurrencies. Currently, although the macro outlook remains uncertain, these adjustments are normal and simply highlight where real value lies in the market’s ongoing maturation and self-education process."
