Bitcoin Conviction Buyers Ramp Up Accumulation Since January
Uk Jin
Summary
- Investors with strong conviction in Bitcoin have sharply increased their accumulation since January this year.
- Glassnode data showed the share of supply of Bitcoin accumulated by Conviction Buyers rose above the level seen during the 2022 accumulation phase.
- That share climbed sharply this year to about 25% of total Bitcoin supply, while Bitcoin traded at $75,516, up 8.4% from a day earlier.
Forecast Trend Report by Period
Investors with strong conviction in Bitcoin have sharply increased their accumulation since January, according to data cited in a Cointelegraph report on August 21.
Cointelegraph, citing Glassnode data, reported that "Conviction Buyers" have been aggressively accumulating Bitcoin since January.
The share of Bitcoin supply acquired by Conviction Buyers during the current accumulation phase has climbed above levels seen in the 2022 accumulation period. A Glassnode chart showed that the share has risen steeply this year, at one point reaching about 25% of total Bitcoin supply.
As of 3:37 p.m., Bitcoin was trading at $75,516, up 8.4% from a day earlier, according to CoinMarketCap.
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.