BTC Long-Term Holders Remain Calm as 45% of Supply Goes Dormant
CryptoNewsTerminal Staff14 Aug, 2024
BTC Long-Term Holders Remain Calm as 45% of Supply Goes Dormant
Over 45% of the circulating supply of Bitcoin (BTC) has remained in wallets for at least six months, indicating that long-term holders (LTHs) are unfazed by recent downward price pressure. Despite the recent all-time highs and increased volatility, a large portion of the market has maintained a HODLing strategy. LTHs, defined as entities that have not moved their BTC for at least 155 days, moved a significant amount of coins around both before and after the ATH. However, the recent positive LTH/STH supply ratio suggests that LTHs have returned to accumulating. While LTHs were a source of selling pressure around the ATH, this downward pressure has eased, and their holdings remain at elevated levels. This accumulation by LTHs is a bullish sign for the long-term prospects of Bitcoin, as it indicates that investors are confident in the asset's future value.
