{"id":559795,"date":"2023-11-09T00:00:10","date_gmt":"2023-11-09T00:00:10","guid":{"rendered":"https:\/\/ktsl888.com\/?p=559795"},"modified":"2024-06-11T08:07:43","modified_gmt":"2024-06-11T08:07:43","slug":"bitcoin-grip-strengthens-record-highs-in-long-term","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-grip-strengthens-record-highs-in-long-term\/","title":{"rendered":"Bitcoin’s Grip Strengthens: Record High In Long-Term Holdings Signals Bullish Horizon"},"content":{"rendered":"

Amid fluctuating markets and economic uncertainty, Bitcoin long-term investors hold their coins tighter than ever. Data<\/a> from blockchain analysis firm Glassnode reveals a notable trend: a significant portion of Bitcoin’s circulating supply is firmly in the hands of long-term holders<\/a>, with figures reaching record heights. <\/span><\/p>\n

Notably, the trend of Bitcoin being tightly held is not a new phenomenon, but the level of accumulation we’re witnessing today appears unprecedented. Glassnode’s research points out that the community of long-term Bitcoin holders is not just growing but doing so at an “impressive rate of accumulation.” <\/span><\/p>\n

This cohort’s commitment is evidenced by the historical highs in key supply metrics\u2014illiquid supply, coins held (HODLed), and long-term holder supply\u2014are all at their peak, according to shared Glassnode insights.<\/span><\/p>\n

Related Reading: Bitcoin On The Brink? Analyst Predicts Soaring Open Interest May Signal 20% Price Correction<\/a><\/div>\n

A Dive into Bitcoin’s Illiquid Supply\u00a0<\/span><\/h2>\n

Glassnode’s briefing depicted the Bitcoin market’s current state. The data illustrates that 68% of Bitcoin’s circulating supply has not moved for more than a year, indicating a decision by investors to hold through volatility and market dips<\/a>.<\/span><\/p>\n

\"Category
Category of Bitcoin supply that hasn’t moved in over a year. | Source: Glassnode<\/a><\/figcaption><\/figure>\n

The metric for coins held for over five years is even more telling, constituting nearly a third of all Bitcoin in circulation. <\/span>In terms of Bitcoin’s illiquid supply\u2014coins held in wallets with little to no spending history\u2014the figures are also at an all-time high, with over 15.4 million BTC firmly held. <\/span><\/p>\n

This illiquidity is not a static condition as it is growing monthly at 71,000 Bitcoin, according to Glassnode’s analysis.<\/span><\/p>\n

\"Amount
Amount of Bitcoin that is not readily available for trading or transactions. | Source: Glassnode<\/a><\/figcaption><\/figure>\n

According to a Glassnode analyst, this accumulation has coincided with a notable pattern of investors pulling their Bitcoin from exchanges into private custody, further solidifying the trend<\/a> of long-term holding. The analyst disclosed:<\/span><\/p>\n

\n

The data suggests investors are continuing to withdraw their coins into custody, with over 1.7 million bitcoin doing so since May 2021.<\/span><\/p>\n<\/blockquote>\n

Bitcoin: Divergence In Holders And Latest Price Action<\/h2>\n

Glassnode’s report also highlights a significant divergence between the behaviors of long-term and short-term Bitcoin holders. While long-term supply is seeing historic highs, short-term holder supply is at record lows, indicating a change in spending habits after the currency’s surge above the pivotal $30,000 benchmark.\u00a0<\/span><\/p>\n

\"Divergence
The divergence between Bitcoin’s long-term and short-term holders. | Source: Glassnode<\/a><\/figcaption><\/figure>\n

Glassnode’s analysis suggests this price point is a crucial battleground for bullish sentiment<\/a>, marking a potential inflection point in the market’s trajectory.<\/span><\/p>\n

Related Reading: Crypto Forecast: Analyst Predicts \u2018Santa Claus Squeeze\u2019 May Deliver Year-End Gains<\/a><\/div>\n

Meanwhile, over the past week, Bitcoin has continued its bullishness, recording a gain of 2.9%. The asset currently trades for $35,216 at the time of writing, up by 1.5% in the past 24 hours.<\/p>\n

\"Bitcoin
BTC’s price is moving sideways on the 4-hour chart. Source: BTC\/USDT on TradingView.com<\/a><\/figcaption><\/figure>\n

Featured image from iStock, chart from TradingView<\/p>\n","protected":false},"excerpt":{"rendered":"

Amid fluctuating markets and economic uncertainty, Bitcoin long-term investors hold their coins tighter than ever. Data from blockchain analysis firm Glassnode reveals a notable trend: a significant portion of Bitcoin’s circulating supply is firmly in the hands of long-term holders, with figures reaching record heights. Notably, the trend of Bitcoin being tightly held is not a new phenomenon, but the level of accumulation we’re witnessing today appears unprecedented. Glassnode’s research points out that the community of long-term Bitcoin holders is not just growing but doing so at an “impressive rate of accumulation.” This cohort’s commitment is evidenced by the historical highs in key supply metrics\u2014illiquid supply, coins held (HODLed), and long-term holder supply\u2014are all at their peak, according to shared Glassnode insights. Related Reading: Bitcoin On The Brink? Analyst Predicts Soaring Open Interest May Signal 20% Price Correction A Dive into Bitcoin’s Illiquid Supply\u00a0 Glassnode’s briefing depicted the Bitcoin market’s current state. The data illustrates that 68% of Bitcoin’s circulating supply has not moved for more than a year, indicating a decision by investors to hold through volatility and market dips. The metric for coins held for over five years is even more telling, constituting nearly a third of all Bitcoin in circulation. In terms of Bitcoin’s illiquid supply\u2014coins held in wallets with little to no spending history\u2014the figures are also at an all-time high, with over 15.4 million BTC firmly held. This illiquidity is not a static condition as it is growing monthly at 71,000 Bitcoin, according to Glassnode’s analysis. According to a Glassnode analyst, this accumulation has coincided with a notable pattern of investors pulling their Bitcoin from exchanges into private custody, further solidifying the trend of long-term holding. The analyst disclosed: The data suggests investors are continuing to withdraw their coins into custody, with over 1.7 million bitcoin doing so since May 2021. Bitcoin: Divergence In Holders And Latest Price Action Glassnode’s report also highlights a significant divergence between the behaviors of long-term and short-term Bitcoin holders. While long-term supply is seeing historic highs, short-term holder supply is at record lows, indicating a change in spending habits after the currency’s surge above the pivotal $30,000 benchmark.\u00a0 Glassnode’s analysis suggests this price point is a crucial battleground for bullish sentiment, marking a potential inflection point in the market’s trajectory. Related Reading: Crypto Forecast: Analyst Predicts \u2018Santa Claus Squeeze\u2019 May Deliver Year-End Gains Meanwhile, over the past week, Bitcoin has continued its bullishness, recording a gain of 2.9%. The asset currently trades for $35,216 at the time of writing, up by 1.5% in the past 24 hours. Featured image from iStock, chart from TradingView<\/p>\n","protected":false},"author":580,"featured_media":521312,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,1119,78790,6664,61309],"class_list":["post-559795","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-btc","tag-btcusdt","tag-crypto","tag-glassnode"],"acf":[],"yoast_head":"\nBitcoin Grip Strengthens: Record Highs In Long-Term Holdings Signal A Bullish Horizon<\/title>\n<meta name=\"description\" content=\"Data from Glassnode reveals a notable trend: a significant portion of Bitcoin circulating supply is firmly in the hands of long-term...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events\u2014like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ\u2019s arrest\u2014has honed his keen sense of market dynamics. When he isn\u2019t crafting engaging crypto content, you\u2019ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he\u2019s catching some Z\u2019s or scrolling through Elon Musk\u2019s very own X platform\u2014(oops, another screen activity, my bad\u2026) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters\u2014(don\u2019t judge, that\u2019s just how he is built). 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Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. 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Edyme","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ktsl888.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/0740dd47da0842fb4beb4895ce9022b4?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/0740dd47da0842fb4beb4895ce9022b4?s=96&d=mm&r=g","caption":"Samuel Edyme"},"description":"Meet Samuel Edyme, Nickname - HIM-buktu. A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events\u2014like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ\u2019s arrest\u2014has honed his keen sense of market dynamics. When he isn\u2019t crafting engaging crypto content, you\u2019ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he\u2019s catching some Z\u2019s or scrolling through Elon Musk\u2019s very own X platform\u2014(oops, another screen activity, my bad\u2026) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters\u2014(don\u2019t judge, that\u2019s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or \u201ckaizen,\u201d striving to be 1% better every day. His mantras, \u201cGod knows best\u201d and \u201cEverything is still on track,\u201d reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He\u2019s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck\u2014unflappable. Edyme is like trading in your car for a jet\u2014bold. He\u2019s the guy who\u2019d ask his boss for a pay cut just to prove a point\u2014(uhhh\u2026). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent\u2014okay, maybe that\u2019s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. Screw it, he ate the opp.","sameAs":["https:\/\/x.com\/0xEdyme"],"url":"https:\/\/ktsl888.com\/author\/samueledymeabayomi\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin’s Grip Strengthens: Record High In Long-Term Holdings Signals Bullish Horizon","url":"http:\/\/ktsl888.com\/news\/bitcoin-grip-strengthens-record-highs-in-long-term\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/ktsl888.com\/news\/bitcoin-grip-strengthens-record-highs-in-long-term\/"},"thumbnailUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/02\/Bitcoin.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/02\/Bitcoin.jpeg?fit=1140%2C815"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Samuel Edyme"}],"creator":["Samuel Edyme"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","btc","btcusdt","crypto","glassnode"],"dateCreated":"2023-11-09T00:00:10Z","datePublished":"2023-11-09T00:00:10Z","dateModified":"2024-06-11T08:07:43Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin’s Grip Strengthens: Record High In Long-Term Holdings Signals Bullish Horizon\",\"url\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/bitcoin-grip-strengthens-record-highs-in-long-term\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/bitcoin-grip-strengthens-record-highs-in-long-term\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2023\\\/02\\\/Bitcoin.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2023\\\/02\\\/Bitcoin.jpeg?fit=1140%2C815\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Samuel Edyme\"}],\"creator\":[\"Samuel Edyme\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"btc\",\"btcusdt\",\"crypto\",\"glassnode\"],\"dateCreated\":\"2023-11-09T00:00:10Z\",\"datePublished\":\"2023-11-09T00:00:10Z\",\"dateModified\":\"2024-06-11T08:07:43Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/ktsl888.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/02\/Bitcoin.jpeg?fit=1140%2C815","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/559795"}],"collection":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/users\/580"}],"replies":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/comments?post=559795"}],"version-history":[{"count":0,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/559795\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media\/521312"}],"wp:attachment":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media?parent=559795"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/categories?post=559795"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/tags?post=559795"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}