Analysis suggests that since long-term holders’ percentage ownership of BTC is at an all-time high, investors in the cryptocurrency should “do the maths.”
Regardless of whether you are a novice to the market or a BTC price trader, Bitcoin BTC $28,486 is getting harder to come by.
According to the most recent statistics from on-chain analytics company Glassnode, a record amount of Bitcoin’s supply being kept in long-term storage. Long-term holding presence of bitcoin surpasses all-time high.
Hodling Trend: Long-Term Holders Now Control 76% of Bitcoin,Hodling Trend: Long-Term Holders Now Control 76% of Bitcoin
The long-term holders (LTHs) of Bitcoin own a larger share of the cryptocurrency than at any other time in history, at over 76%.
You Can Become a Shiba Inu (SHIB) Millionaire for Just $6.75.
The low-time preference Bitcoin investor cohort is more prevalent in the market than ever before, even though the supply is growing by a proportion with each block.
The accomplishment is a first in the history of Bitcoin, as mentioned by Charles Edwards, the creator of quantitative Bitcoin and digital asset firm Capriole Investments.
On October 18, he posted on X, saying, “A record 76.2% of the Bitcoin network is locked up with long-term holders today.”
Edwards brought out the LTH record’s cascading impact, which states that coins that are available to other market players are becoming increasingly scarce.
An additional Glassnode graphic demonstrates how LTHs “hodled” during the duration of the ensuing weak market, sharply increasing their BTC exposure starting in mid-2021. The portion of the supply that they control has only temporarily declined since then.
How Does It Compare to VC Spectra and Dogecoin
While the demand for Bitcoin varies, Edwards said in a private statement to Cointelegraph that the overall direction is evident.
Not that demand is the same as it was in 2015. Supply and demand economics dictates that a lower supply for a given demand would always result in a higher price,” he clarified.
Bitcoin speculators remain neutral
Market watchers are also quite interested in short-term hodlers (STHs), or speculators, who are at the other extreme of the spectrum from long-term hodlers (LTHs), as Cointelegraph noted.
For much of this year, the realised price of the STH cohort has served as support, and new data this week indicates that the pattern is still in effect.
The price at which all STH-owned coins last traded is known as the “STH realised price,” and analysis indicates that this week’s breach of $27,000 for BTC/USD is a significant bullish catalyst.
Hodling Trend: Long-Term Holders Now Control 76% of Bitcoin,Hodling Trend: Long-Term Holders Now Control 76% of Bitcoin,Hodling Trend: Long-Term Holders Now Control 76% of Bitcoin, Bitcoin Crypto news, Bitcoin News