Bitcoin HODLers Reach 75% Of Circulating Supply As Glassnode Reports New ATH
Key Points:
- Glassnode reports an all-time high in long-term holder supply of 14.52M BTC, indicating a preference for HODLing among mature investors.
- Only 0.42% of trading hours have recorded a tighter Bitcoin 30-day price range, suggesting a likelihood of volatile price movement.
- BTC has significantly dropped to $29K, about 5% over the last 24 hours.
Glassnode reported a new all-time high of 14.52M BTC in long-term holder supply, suggesting HODLing is preferred. Tighter 30-day price range, the potential for volatile movement, and a recent price drop of -1.11M BTC to $29K. Bitcoin block 800,000 just mined.
Recently, Glassnode, an on-chain analysis platform, reported that the Bitcoin Long-Term Holder Supply has reached a new all-time high of 14.52 million BTC, which is equivalent to 75% of the circulating supply. This suggests that the preferred market dynamic amongst mature investors is HODLing.
In addition, only 484 out of 114,055 trading hours (0.42%) have recorded a tighter Bitcoin 30-day price range. This suggests that the likelihood of severe volatile price movement is enhanced.
The recent BTC spot price movement from $30,263 to $29,201 has sent -1.11 million BTC (-5.9%) into an underwater position. This places the current percent supply in profit at 70.4% (13.45 million BTC). At the time of writing, Bitcoin has witnessed a significant drop to $29K, about 5% over the last 24 hours.
According to Santiment, Bitcoin has rebounded above $30k last weekend, and it’s recommended to keep an eye on the number of large addresses as summer progresses. If the 100+ $BTC wallet line begins rising again, another breakout greatly increases in probability.
Previously, Checkmate, Lead On-chain Analyst of Glassnode, reported that Bitcoin block 800,000 has just been mined! A quick thread on some Bitcoin network stats up until this point: a total of 19.437 million BTC have been minted, and 268.7k BTC in fees paid out to miners.
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.
Author
News
Bitcoin HODLers Reach 75% Of Circulating Supply As Glassnode Reports New ATH
Key Points:
- Glassnode reports an all-time high in long-term holder supply of 14.52M BTC, indicating a preference for HODLing among mature investors.
- Only 0.42% of trading hours have recorded a tighter Bitcoin 30-day price range, suggesting a likelihood of volatile price movement.
- BTC has significantly dropped to $29K, about 5% over the last 24 hours.
Glassnode reported a new all-time high of 14.52M BTC in long-term holder supply, suggesting HODLing is preferred. Tighter 30-day price range, the potential for volatile movement, and a recent price drop of -1.11M BTC to $29K. Bitcoin block 800,000 just mined.
Recently, Glassnode, an on-chain analysis platform, reported that the Bitcoin Long-Term Holder Supply has reached a new all-time high of 14.52 million BTC, which is equivalent to 75% of the circulating supply. This suggests that the preferred market dynamic amongst mature investors is HODLing.
In addition, only 484 out of 114,055 trading hours (0.42%) have recorded a tighter Bitcoin 30-day price range. This suggests that the likelihood of severe volatile price movement is enhanced.
The recent BTC spot price movement from $30,263 to $29,201 has sent -1.11 million BTC (-5.9%) into an underwater position. This places the current percent supply in profit at 70.4% (13.45 million BTC). At the time of writing, Bitcoin has witnessed a significant drop to $29K, about 5% over the last 24 hours.
According to Santiment, Bitcoin has rebounded above $30k last weekend, and it’s recommended to keep an eye on the number of large addresses as summer progresses. If the 100+ $BTC wallet line begins rising again, another breakout greatly increases in probability.
Previously, Checkmate, Lead On-chain Analyst of Glassnode, reported that Bitcoin block 800,000 has just been mined! A quick thread on some Bitcoin network stats up until this point: a total of 19.437 million BTC have been minted, and 268.7k BTC in fees paid out to miners.
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.
Other Posts
Related Posts
Latest
USDC and CCTP to launch on Aptos, with Stripe adding Aptos support in crypto products
Best Cryptos to Buy: Qubetics Set to Rise, Bitcoin Knocks at $100k Milestone, Avalanche to Release 1.67M Tokens
Ike Goes Live on Mainnet: Unlocking Liquid Staking on Aleph Zero
Press Release
USDC and CCTP to launch on Aptos, with Stripe adding Aptos support in crypto products
Best Cryptos to Buy: Qubetics Set to Rise, Bitcoin Knocks at $100k Milestone, Avalanche to Release 1.67M Tokens
