Bitcoin HODLer Selling Exhausts, Supply Now Up By $8 Billion
Summary
Long-term Bitcoin holders have absorbed $8 billion worth of tokens, reversing their trend to net accumulation. These holders, who have held onto their coins for more than 155 days, represent the stubborn side of the market and tend to hold for long periods. Despite a recent selloff during a price rally, they have since reversed their behavior, with their supply increasing by 126,092 BTC, worth $8.1 billion. This suggests a renewal of the uptrend in the indicator, potentially signaling a bullish sign for cryptocurrency. Despite a recent 3% price drop, Bitcoin is currently floating around the $64,600 level.
