Glassnode Says Bitcoin High-Conviction Buyers Have Accumulated Since January, Outpacing 2022
Minseung Kang
Summary
- On-chain analytics firm Glassnode said so-called high-conviction buyers in the Bitcoin market have continued accumulating since January despite price swings.
- Glassnode said a similar accumulation pattern emerged in 2022, and that in the current cycle, the share of total supply purchased by those investors is larger than in the previous cycle.
- Glassnode emphasized that the share of supply accumulated by high-conviction buyers in this cycle is larger than in the last cycle.
Forecast Trend Report by Period
So-called high-conviction buyers in the Bitcoin market have continued accumulating the token since January despite price swings, according to on-chain analytics firm Glassnode.
On August 21, Glassnode wrote on X that "high-conviction buyers have been steadily accumulating Bitcoin since January."
The firm said a similar accumulation pattern emerged in 2022. It added that in the current cycle, the share of total supply purchased by those investors is larger than in the previous cycle.
Glassnode also emphasized that the share of supply accumulated by those buyers in this cycle exceeds the level seen in the last cycle.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.