Richard Howe

Bulls, Ducks and NY Jets Fan. Commercial Banker. Apparently I get bored easily.

[Greg Wyshynski @wyshynski]

There are goalies today who look like two Arturs Irbes stacked on top of each other and they aren't half as good as one Arturs Irbe.

[Chris Kuiper, CFA @ChrisJKuiper]

"Who is selling?"

Is the number one question I've been getting regarding #bitcoin's continued price pressure against a backdrop of visible buying (by ETPs, corporations etc.)

I'm not unique in suggesting it's the long-term holders (or HODLers).

But one data point that gives more color is the simple metric of percent of coins active 1 year or more.

As you can see in the chart below, this line goes up during bear markets (more holding on as coins age and people are sitting on losses) and then usually a dramatic decline as these longer-term holders sell into the strength of a bull market.

What is interesting with this cycle is the relatively gentle slope down with this bull market.

It didn't plunge when new highs were made.

It's a consistent slow bleed as the market has slowly moved sideways and up.

To me this makes sense from a psychological viewpoint and I've been seeing and hearing this from people anecdotally, our clients included.

Bitcoin's performance has recently lagged gold's, even the S&P, and people are getting tired.

Everyone was expecting a euphoric end to the 4-year cycle and was waiting to sell into the historically strong seasonality of October and now November.

But as October's strong seasonal pattern didn't hold up and the calendar year is coming to a close, long-term holders are looking to make year-end tax and positional changes, calling it a day with the gains they already have.

I will be watching this slope along with some other metrics to gauge seller exhaustion, but for now the positive fundamental developments and lackluster price action continue to diverge in my opinion.

Chart Source: Glassnode 11/10/25.

[Mark McGrath @MarkMcGrathCFP]

@theRealKiyosaki Okay Bob let's get you back to the home now

[Richard Howe @rhowe31]

Of all things watching Harry Potter and the Cursed Child has given me an epiphany 😂

[Anaheim Ducks @AnaheimDucks]

✍️✍️ MAC-T IS SIGNED!

It's a 6-year deal for Mason McTavish.

Details ⬇️

https://t.co/SfDNTm1A8v

[Canadiens Montréal @CanadiensMTL]

🐐🐐🐐🐐🐐🐐
🐐🐐🐐🐐🐐🐐
🐐🐐🐐🐐🐐🐐
🐐🐐🐐🐐🐐🐐
🐐🐐🐐🐐🐐🐐
🐐

Merci, Carey

#GoHabsGo

[Kevin Weekes @KevinWeekes]

**Breaking News** 🚨 📰
We’re so excited to announce our hockey content platform called The Inside Edge.
Our Pre Agency PPV special tomorrow evening will have panelists, insiders, special guests and BIG prizes for you fans. Deets to follow, let’s gooo ! #HockeyX

[BarDown @BarDown]

Giving the people what they want. 🦆

[Hockey Hall of Fame @HockeyHallFame]

Welcome to the Hockey Hall of Fame, Alexander Mogilny.

#HHOF2025 | #HHOF

[Anaheim Ducks @AnaheimDucks]

TRADE: We have acquired left wing Chris Kreider and a 2025 fourth-round pick for center Carey Terrance and a 2025 third-round pick.

Details ⬇️

https://t.co/x2o9SuckCc

[Paul Bissonnette @BizNasty2point0]

I was never asked to join the Leafs front office. I think I could help them win a Stanley Cup. I played in 2 NHL playoff games. I shook hands with the Detroit Red Wings after they swept us in Arizona. I have experience. I shook Nicklas Lidström’s sweaty hand. I’m a winner. #leafsforever

[Mark McGrath @MarkMcGrathCFP]

Took a lot of effort not to vote for the Rhino party this morning.

[Richard Howe @rhowe31]

Wife voted for the first time as a Canadian! Pretty cool experience watching her go through the immigration process.

[Curtis Joseph @Cujo]

Congrats to the greatest goal scorer of all time ⁦@ovi8⁩ . Feeling very lucky to have NOT been a part of it! 2 shots, 0 goals #kingofzero #gr8ness ⁦@BudweiserCanada⁩

[litquidity @litcapital]

Warren Buffett living it up with a $300 billion cash pile while the markets are in free fall

[Don Cherry @CoachsCornerDC]

I thought all the sweethearts wanted to get fighting out of the game?

[Richard Howe @rhowe31]

Not gonna lie JB “Love Yourself” hits like no other

[Richard Howe @rhowe31]

Honestly the last few weeks have been wayyyyy tooo good. Waiting for the equalizer

[Richard Howe @rhowe31]

Make this algorithm make a little sense moving forward. I shouldn’t have to mute accounts that I don’t follow because the “For You Page” keeps bringing them into the timeline. Don’t follow Elon or any of the other people so why would it be “For Me”?

[Dwight Howard @DwightHoward]

Another Dwight prediction 🤔 when yall going listen? I know hoops ❗️