Bitcoin HODL Strengthens: Investors Continue to Accumulate BTC

• The latest data revealed that despite the continued rise of Bitcoin, the enthusiasm for accumulating BTC remains strong.
• The analysis of Bitcoin Hodler Net Position Change clearly showed that investors have entered a strong accumulation phase.
• At the time of writing, there are approximately 19 million BTC in circulation, with a total supply limit of 21 million. However, more than 15 million are currently in profit while about 4 million are in loss.

Bitcoin investors continue to accumulate BTC intensively, and the number of active BTCs between 1 and 5 years is increasing.

Bitcoin Investors Continue to Accumulate

The latest data revealed that despite the continued rise of Bitcoin, the enthusiasm for accumulating BTC remains strong. Furthermore, there has been a noticeable decrease in distributions despite the increasing number of accumulated coins. This indicates a significant increase in hodling behavior.

The analysis of Bitcoin Hodler Net Position Change by Glassnode clearly showed that investors have entered a strong accumulation phase. When examining the graph, it becomes evident that the distribution of BTC stopped at the end of December and accumulation took priority.

This accumulation trend strengthened around February but then experienced a decline. However, despite this decline, one thing is clear: accumulation continued.

At the time of writing, investors are firmly committed to an accumulation regime, with an impressive monthly rate exceeding 27,000 BTC. The graph also shows that investors are accumulating at various price ranges and challenging market trends. This behavior continues even in an environment where Bitcoin is experiencing an upward trend, further emphasizing investors’ determination to accumulate this digital asset.

Glassnode’s analysis indicates that a growing portion of Bitcoin supply is inactive, highlighting a significant lack of on-chain movement. The recent active supply graph shows an increase in the number of BTCs active between one and five years.

In particular, more coins have been added to the inactive supply graph for over two years. At the time of writing, this specific graph accounts for 55.6% of the supply, clearly highlighting an ongoing trend. The only age band surpassing this percentage is the one-year and above graph, indicating a higher density of long-inactive coins at over 69%.

Profitable supply overshadows loss-making supply

The ongoing price trend favors those in profit in terms of supply, as shown by the profit and loss supply graph. At the time of writing, there are approximately 19 million BTC in circulation, with a total supply limit of 21 million. However, more than 15 million are currently in profit while about 4 million are in loss. Specifically, the graph shows that the upward trend in profit started in January.

It is worth noting that since each Bitcoin must fall into one of these categories, the supply in profit and loss is inversely proportional. These supply zones can vary above or below the price stamp associated with each Unspent Transaction Output (UTXO) in the Unspent Transaction Output (UTXO) set as spot prices fluctuate.

At the time of writing, Bitcoin (BTC) is trading at approximately $30,474 and has experienced a 0.6% decrease in the past 24 hours. While the price graph generally indicates an upward trend, the Moving Average Convergence Divergence (MACD) shows a downward trend at the time of observation.