CryptoQuant CEO Says Bitcoin Investors Are Shifting Into Long-Term Holders
Summary
- CryptoQuant CEO Ki Young Ju said the current Bitcoin price is similar to where it was two years ago, but investors are shifting into long-term holders.
- He said the share of realized capitalization held by investors with holding periods of six months to two years has risen sharply to 53%% from 15%% two years ago.
- He said short-term holders are evolving into long-term holders, reducing speculative supply in the market.
Forecast Trend Report by Period
Bitcoin is trading at roughly the same level as it was two years ago, but the composition of the market has changed significantly, according to an analysis.
Ki Young Ju, chief executive of CryptoQuant, wrote on X on June 4 that Bitcoin's current price is similar to where it stood two years ago, with one key difference: investors who entered during this cycle are gradually becoming long-term holders.
The share of realized capitalization held by investors who have owned Bitcoin for six months to two years has risen to 53%, up sharply from about 15% two years ago, Ju said.
Realized capitalization values each Bitcoin at the price when it last moved. The on-chain metric is used to reflect market participants' actual purchase costs.
In the previous upcycle, Bitcoin formed a bottom when that share reached about 68%, he added.
Short-term holders are gradually evolving into long-term holders, a shift that suggests speculative supply in the market is declining.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
