Long-term holders continue to accumulate bitcoin, with 40% unmoved in more than three years
Key Points:
- Long-term holders of bitcoin are accumulating the tokens despite recent market fluctuations
- These holders are refraining from trading or using their bitcoin as collateral
- Data shows that 40% of bitcoin has remained unmoved for over three years, an all-time high for this metric
- This behavior indicates optimism and resilience against market volatility
- Newer long-term holders who acquired their positions during the bear market show more unease
Long-term holders of bitcoin continue to show confidence in the cryptocurrency, with 40% of the tokens remaining unmoved for over three years. This indicates a bullish outlook and resilience against market volatility. While newer long-term holders acquired their positions during the bear market and have shown unease, those who weathered both the bull market peak and bear market remain steadfast. The current low-volatility period in crypto markets, lack of catalysts, and limited retail investor interest have contributed to a bearish sentiment among futures and options traders, who anticipate a potential drop in bitcoin prices to as low as $22,000. Despite this, long-term holders are maintaining their positions and accumulating bitcoin, suggesting a positive long-term outlook.
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