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Long Term Bitcoin Holders are breaking records

Long Term Bitcoin Holders are breaking records. Over the past seven days, the total balance held in wallets has increased by 43,949 Bitcoin or $1.274 billion...

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Long Term Bitcoin Holders Are Breaking Records. Over The Past Seven Days, The Total Balance Held In Wallets Has Increased By 43,949 Bitcoin Or $1.274 Billion...

Long-term Bitcoin holders now control a record 14.599 million BTC, according to data from blockchain analytics firm Glassnode.

Long Term Bitcoin Holders are breaking records

Over the past seven days, the total balance held in these wallets has increased by 43,949 Bitcoin or $1.274 billion in current prices. These are addresses that have held coins for at least 155 days, considered statistically unlikely to spend, and thus assumed to be HODLing.

Statistics and Historical Context

The amount held by long-term holders also accounts for 75% of Bitcoin’s circulating supply, suggesting investors are opting to hold onto their assets for extended periods of time. In February, long-term Bitcoin holders controlled as much as 78% of the network’s circulating supply, indicating a sustained pattern of long-term holding.

Realized Volatility Hits Historic Lows

Long Term Bitcoin Holders Are Breaking Records. Over The Past Seven Days, The Total Balance Held In Wallets Has Increased By 43,949 Bitcoin Or $1.274 Billion...

Checkmate, a pseudonymous on-chain analyst at Glassnode, pointed out that the realized volatility for Bitcoin has also plunged to historical lows. “Across 1-month to 1-yr timeframes, this is the quietest we have seen the corn since after March 2020,” wrote Checkmate, aligning this low volatility with post-bear-market hangover periods, known as the re-accumulation phase.

Current State of Bitcoin

Bitcoin is currently changing hands at $29,010, down 0.1% over the past 24 hours, according to CoinGecko. The world’s largest cryptocurrency is also down 4.3% in the past month, after hitting levels above $31,500 in mid-July amid a new wave of Bitcoin ETF applications.

Year-to-Date Performance

Still, Bitcoin is up 75% since the start of the year, solidly overperforming leading stock indexes such as Nasdaq Composite (+33% YTD), S&P 500 (+17% YTD), and Dow Jones (+5.82%).

Long Term Bitcoin Holders Are Breaking Records. Over The Past Seven Days, The Total Balance Held In Wallets Has Increased By 43,949 Bitcoin Or $1.274 Billion...
Sources:decrypt

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