Summary
- It is reported that long-term "Bitcoin" holders are maintaining most of their holdings in hopes of a price increase despite some having taken profits.
- It is analyzed that 45% of Bitcoin in circulation has remained unmoved for over 3 years, and 30% for over 5 years.
- Such behavior among long-term holders reflects long-term conviction.
According to an analysis, most long-term Bitcoin (BTC) holders are still waiting for prices to rise, despite some having realized partial profits.
On the 4th (local time), digital asset media CoinDesk cited data from on-chain analytics firm Glassnode, stating, "Currently, 45% of circulating Bitcoin has been held unmoved for more than three years," and added, "This is the same level as in February last year, right after the launch of the spot Bitcoin ETF in the United States."
Additionally, Bitcoin that has not moved for more than five years now accounts for 30% of the total supply. This amount has also remained unchanged since last May.
The outlet added, "When the leverage crisis hit in July 2022 due to the 3AC and Celsius incidents, Bitcoin was priced around $20,000," and noted, "That investors have refrained from selling and continued holding for three years from that moment demonstrates strong long-term conviction."
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
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