Definition ∞ Investor refusal to sell refers to a market behavior where holders of a digital asset elect not to liquidate their positions, even during periods of significant price volatility or substantial market downturns. This strong holding conviction, frequently termed “HODLing,” indicates a belief in the asset’s long-term value or a reluctance to realize losses. It can contribute to reduced selling pressure and illiquidity in the market. This collective action can significantly influence price dynamics.
Context ∞ News articles often cite investor refusal to sell as a factor supporting asset prices during bear markets or as a sign of strong community sentiment. This phenomenon is particularly notable in assets with robust community backing or those widely perceived as long-term stores of value. Analyzing on-chain metrics related to holding periods helps accurately gauge the extent of this investor behavior.
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