Bitcoin supply held by long-term holders hits all-time high

Data from Glassnode suggests that Bitcoin is in an accumulation pattern, with its available supply reaching a new historical low. According to the report, Bitcoin’s illiquid supply and long-term holders are increasing.

As its supply tightens, available BTC is being purchased by smaller, long-term holding entities.

Bitcoin accumulation among a majority of investor cohorts and the bullish conviction of long-term holders have resulted in investors gobbling up “92% of the newly mined supply,” according to the Glassnode analysis.

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Nov-8-2023 09:27:16 AM