Bitcoin inactive supply nears record as
over 60% of BTC stays unspent for at least 1 year
Only two times before has the proportion
of available supply been so overwhelmingly stationary in its wallet.
Bitcoin (BTC) may be struggling at
$40,000 but fresh data is reinforcing the fact that hardly anyone is interested
in selling.
Data from on-chain analytics firm
Glassnode shows that despite price volatility, over 60% of the BTC supply has
not left its wallet in a year or more.
Strong hands have rarely been stronger
Stubborn hodling by long-term investors
is a characteristic that differentiates the current Bitcoin market climate from
most other downtrends.
With spot price action passing 50%
losses versus November's all-time highs last month, expectations were for cold
feet to kick in — but among seasoned hodlers, the sell-off never came.
In fact, the opposite has been true for
an extended period — long-term investors are adding to their positions or
staying put on their BTC exposure.
No comments:
Post a Comment