HODLERS OF $BTC
Today, while checking out the on-chain data, I noticed something pretty interesting.
Currently, about 79% of the supply of $BTC is held by long-term holders.
Meanwhile, old Bitcoin wallets are pretty much sitting still. The reactivation rate is at its lowest since 2012.
Well, we don't know where the price is headed.
But with long-term Bitcoin holders showing no signs of selling, and dormant wallets still asleep, it seems like selling pressure isn't the market's biggest concern right now.
This might also be part of the reason why $BTC remains quite “sturdy” in the face of recent not-so-positive news.
Today, while checking out the on-chain data, I noticed something pretty interesting.
Currently, about 79% of the supply of $BTC is held by long-term holders.
Meanwhile, old Bitcoin wallets are pretty much sitting still. The reactivation rate is at its lowest since 2012.
Well, we don't know where the price is headed.
But with long-term Bitcoin holders showing no signs of selling, and dormant wallets still asleep, it seems like selling pressure isn't the market's biggest concern right now.
This might also be part of the reason why $BTC remains quite “sturdy” in the face of recent not-so-positive news.