Bitcoin investors Show Confidence As 70.35% of Bitcoin Supply Stays Unmoved
Record 70.35% of Bitcoin supply inactive for over a year, showing strong holder confidence despite market challenges.
A remarkable 70.35% of Bitcoin's circulating supply has been inactive for at least a year, surpassing the previous high of 69.35% in July. This data was tracked by Glassnode, a blockchain analytics firm. According to research, this demonstrates Bitcoin holders' firm belief in the currency's value, even with challenges in the crypto market and global economy.
Not only are one-year holdings at all-time highs, but so are Bitcoin holdings that have not moved in two, three, or five years. This shows that long-term investors are holding on to their Bitcoin, despite the fact that its price has more than doubled to $37,000 this year. According to Reflexivity Research, while greater prices could one day lead to selling, Bitcoin owners appear unwilling to sell anytime soon.
With the growth of other Bitcoin investing strategies such as exchange-traded funds (ETFs) and futures, These figures may not properly represent the market reality. Bitcoin is pooled and held in ETFs, rendering it inactive, but investors can still trade ETF units on exchanges.
