Bitcoin Supply Held by Long-Term Investors Reaches All-Time High!

• According to current data, the supply held by long-term Bitcoin holders has reached a new all-time high. Metrics indicate investors’ confidence in BTC.
• While long-term investors hesitate to sell their assets, there has been a significant decrease in Bitcoin balances on exchanges.
• Bitcoin exchange balances have dropped to levels seen in early 2018. According to analysis, exchange balances have decreased by approximately 32% since their peak in March 2020.

Supply held by long-term Bitcoin investors has set a new record; bullish signals in Bitcoin may be strengthening.

LTHs in Bitcoin Set a New Record

As investors continue to redistribute their assets, the distribution of Bitcoin supply looks fascinating. Confidence in Bitcoin among long-term holders has reached its highest level, as evident from the latest data. However, as BTC’s exchange reserves decline, investors remain skeptical of Centralized Exchanges (CEX).

According to current data, the supply held by long-term Bitcoin holders has reached a new all-time high. Metrics indicate investors’ confidence in BTC, as they expect the price to rise again in the coming months and years.

The maximum BTC count held by addresses with balances of 1,000-10,000 BTC was calculated as 24.18%. This group was followed by addresses with balances of 10-100 BTC and 100-1,000 BTC, which were above 22% and 19%, respectively. While long-term investors hesitate to sell their assets, there has been a significant decrease in Bitcoin balances on exchanges.

CryptoQuant noted in a recent analysis that BTC’s supply on exchanges has decreased. In fact, Bitcoin exchange balances have dropped to levels seen in early 2018. According to analysis, exchange balances have decreased by approximately 32% since their peak in March 2020, falling from 3.1 million BTC to 2.1 million BTC. The usage of alternatives like DEXs, which are not included in these statistics, may contribute to this.

How Will Investors’ Confidence in Bitcoin Reflect?

In addition to long-term holders, whale activity around BTC has remained high in the past few weeks, as indicated by the number of whale transactions. The overall sentiment towards BTC has shown an increase after the drop, indicating a growing positive sentiment towards the coin.

According to CryptoQuant, BTC’s exchange reserves have decreased, indicating that the coin is not under selling pressure. Furthermore, the Binary CDD was green. This metric means that the movements of long-term holders in the past 7 days were lower than the average.

This was another bullish signal indicating a potential upward trend in the price in the coming days. At the time of writing, BTC is trading at $29,908 with a market capitalization exceeding $581 billion.