Long-term holders of bitcoin control a record 14.599 million BTC, which is 75% of the total cryptocurrency supply, according to data from Glassnode.
Over the past seven days, the combined balances of these wallets have increased by 43,949 BTC (~$1.274 billion at the time of writing).
Glassnode categorizes addresses from which assets have not been moved for more than 155 days (~5 months) as long-term holders. Research by the analytics service has shown it is statistically unlikely that these coins will be spent and are presumably in HODL status.
Glassnode’s lead on-chain analyst, Checkmate, also noted that Bitcoin’s realized volatility has fallen to all-time lows. On various timeframes, the indicator is the “quietest” since March 2020, he specified.
“Historically, such low volatility is consistent with hangover periods after a bear market (re-accumulation phase),” the expert emphasized.
According to him, only after the minimum values \u200b\u200bof the indicator in November 2018, Bitcoin fell by ~ 50%. The remaining cases were harbingers of bull market momentum. Therefore, the price movement can follow in any direction, but historically the rise has occurred more often, he added.
Recall that trader and analyst Michael van de Poppe denied investors’ assumptions about the fall in the price of the first cryptocurrency to $ 12,000 before a new rally.
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