Morgan Stanley Says 78% Of Bitcoin Has Not Been Transacted In The Last 6 Months

In its report, Morgan Stanley, a multinational investment management and financial services firm located in New York, stated that Bitcoin trading is now in a deep freeze.

Over the last six months, a significant percentage of Bitcoin units have not moved or exchanged. The current percentage of unmoved supply is 78%. This is a higher proportion than during the 2018 bear market. The fraction of unmoved supplies peaked at 75% during the time.

According to the research, a record 78% of BTC has not been utilized in transactions in the previous six months, and this figure is rising. This suggests that investors who purchased or received bitcoin more than six months ago are holding on to their assets, with some possibly hoping for a price rebound, according to analyst Sheena Shah.

According to estimates, the average breakeven price for the remaining 22% of Bitcoin owned by shorter-term investors is slightly more than $22,300, according to the report.

According to Morgan Stanley, institutional demand for cryptocurrency is influenced by price volatility. Traditional financial institutions have been increasingly introducing crypto products to meet client demand. Still, given recent flows in exchange-traded products (ETPs) and volume trends, unless there is upward price volatility, it may be difficult to see real demand pick up materially.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Harold

CoinCu News