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– Advertisement – With the upcoming Bitcoin halving event less than five months away, long-term BTC holders have remained optimistic about not parting with their assets. Glassnode has found that over 68% of BTC supply has been active more than a year ago. Furthermore, 57.1% of the supply was last active more than two years ago, 41.1% over three years ago, and 29.6% over five years ago. The ratio of HODLers Net Position Change between long and short-term holder supply shows a discrepancy between stagnant and moving supply. Long-term investors in Bitcoin remain strong, according to Glassnode’s new report: What about short-term investors? Long-Term Investors in Bitcoin With the upcoming Bitcoin halving event less than five months away, long-term BTC holders have remained optimistic and continue to HODL their assets. According to Glassnode’s weekly report on the on-chain platform, many measures of Bitcoin supply, including long-term holders and illiquid ones, are being held at “extremely tight” levels and are at all-time highs. Glassnode noted that the relative ratio of circulated supply held for more than a year, a measure of a supply that’s been held for more than one year, has reached all-time highs despite investor sentiments around impressive price performance of crypto assets since the beginning of the year and the upcoming halving event. The market intelligence platform found that over 68% of BTC supply has been active more than a year ago. Furthermore, 57.1% of the supply was last active more than two years ago, 41.1% over three years ago, and 29.6% over five years ago. Glassnode said: “While the Long Term Holder (LTH) supply is near all-time highs, Short Term Holder (STH) supply is effectively at all-time lows. This significant dynamic implies that current holders are becoming increasingly less willing to part with their assets.” Examining On-Chain…

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Filed under: News - @ November 10, 2023 12:12 am