“Conviction Buyers” Continued Accumulating During Bitcoin’s 49% Drop

Bitcoin has come to the forefront with a post showing that approximately 4 million BTC are held in the “Conviction Buyers” category, which reportedly accumulated during a 49% decline.

The Glassnode-branded chart suggests that this group of investors continued their purchases during the Bitcoin downturn. However, the post was not made from Glassnode’s official accounts; the content was shared by the @n3ocortex account, and no official relationship between this account and Glassnode has been confirmed.

The chart is titled “BTC: Supply by Investor Behavior (7d Moving Average).” According to the statement in the post, Conviction Buyers accumulated Bitcoin throughout the 49% drop and currently hold approximately 4 million BTC. In addition to this category, the chart also shows Loss Sellers, Profit Takers, and the BTC price for comparison.

Methodology of “Conviction Buyers” data remains uncertain

The post does not explicitly state the date range covered by the data. While years are included in the chart, the text of the post does not explain which period the calculation covers. Furthermore, the category definition and the wallet or behavioral criteria used to define this group of investors are unknown. No details regarding the methodology used are provided.

The phrase “7d Moving Average” in the chart title indicates that the series is presented as a 7-day moving average. However, it is unclear whether the figure of approximately 4 million BTC represents the raw supply or the value in the moving average series. Since there is no independent verification at the source, the data is being reported only as presented in the post; it does not constitute a definitive prediction for the Bitcoin price or investment advice.