Long-Term Bitcoin Investors Control Record Amount of BTC!

  • According to data analytics firm Glassnode, long-term Bitcoin holders are currently controlling a record 14.599 million BTC.
  • The amount held by long-term holders also constitutes 75% of the circulating supply of Bitcoin.
  • Meanwhile, a Glassnode analyst pointed out that Bitcoin’s realized volatility has also dropped to historically low levels.

According to the latest data from Glassnode, long-term Bitcoin holders are currently in control of a record amount of BTC, and this has seen an impressive increase in the last 7 days.

New Record from Long-Term Bitcoin Investors

bitcoin-btc

According to data analytics firm Glassnode, long-term Bitcoin holders are currently controlling a record 14.599 million BTC. In the past seven days, the total balance held in these wallets increased by 43,949 Bitcoin, or $1.274 billion at current prices.

Long-term Bitcoin holders are those addresses that have held their coins for at least 155 days. According to Glassnode, previous research indicates that spending from such an address is statistically unlikely, thus making it a practice known as “HODLing” in the Bitcoin parlance.

bitcoin-long-short-term-holder

The amount held by long-term holders also constitutes 75% of the circulating supply of Bitcoin, indicating a preference among investors to hold onto their assets for an extended period.

In February, long-term Bitcoin holders controlled 78% of the circulating supply of the network. However, the continuation of this long-term holding pattern could suggest increased confidence in Bitcoin’s potential as both a store of value and a medium of exchange.

Bitcoin’s Realized Volatility Hits Historically Low Levels

Meanwhile, a Glassnode analyst noted that Bitcoin’s realized volatility has also dropped to historically low levels. The analyst stated, “On 1m–1y timeframes, we’re seeing the quietest Bitcoin since post-bear market euphoria after March 2020,” and added:

“Historically, such low volatility is compatible with post-bear market accumulation phases.”

bitcoin-annualized-realized-volatility

Realized volatility, sometimes referred to as historical volatility, refers to the price fluctuation experienced by an asset over a specific period. It’s often calculated based on changes between closing prices.

Currently, Bitcoin is trading at $29,140, a 0.4% increase over the past 24 hours. While the world’s largest cryptocurrency has dropped more than 3% in the last month after surpassing $31,500 in the wake of a new wave of Bitcoin ETF applications, it has still outperformed major stock indexes such as the Nasdaq Composite (+33% YTD), S&P 500 (+17% YTD), and Dow Jones (+5.82% YTD) by over 75% since the beginning of the year.

Don't forget to enable notifications for our Twitter account and Telegram channel to stay informed about the latest cryptocurrency news.

BREAKING NEWS

Bitcoin Futures Open Interest Reaches $72.23 Billion: CME and Binance Lead the Market

According to the latest data from Coinglass, as of...

Norwegian Block Exchange Becomes First Public Company in Norway to Add Bitcoin to Its Balance Sheet

In a significant move within the financial landscape, Norwegian...

FTX Creditors Set to Receive Allocations Through Kraken: $5 Billion Payment Round Underway

In a significant development for the crypto community, FTX...

Whale Movement: 3,000 Ethereum ($ETH) Transferred to Binance Amid $24.55 Million Surge

The latest data from Onchain Lens indicates significant movement...

Trader Targets Bitcoin Whale with $76 Million 40x Leverage Short Position Amidst $2.78 Million Loss

In a recent COINOTAG update, significant market movements have...
spot_imgspot_imgspot_img

Related Articles

spot_imgspot_imgspot_imgspot_img

Popular Categories

spot_imgspot_imgspot_img