Bitcoin inactive supply nears record as over 60% of BTC stays unspent for at ...
Only two times before has the proportion of available supply been so overwhelmingly stationary in its wallet. Bitcoin (BTC) may be struggling at $40,000 but fresh data is reinforcing the fact that hardly anyone is interested in selling.Data from on-chain analytics firm Glassnode shows that despite price volatility, over 60% of the BTC supply has not left its wallet in a year or more.Strong hands have rarely been strongerStubborn hodling by long-term investors is a characteristic that differentiates the current Bitcoin market climate from most other downtrends.With spot price action passing....
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Miners are back in accumulation mode, with 5,000 BTC added to Bitcoin’s unspent supply since the start of February. Bitcoin miners are stashing away their coins for higher prices, with direct transfers from miners to exchanges plummeting nearly 40% since mid-March.Data from on-chain analytics provider Glassnode shows that miners’ BTC balances have been increasing since late March, following heavy outflows throughout January and consistently reduced selling during February and earlier in March.Glassnode CTO Rafael Schultze-Kraft, notes several metrics pointing to recent miner accumulation —....
On-chain data shows a majority of the Bitcoin supply hasn’t moved in more than two years, despite the fact that BTC has seen a significant uplift during this period. Bitcoin Inactive Supply Trend Suggests HODLing Behavior Remains Strong In a new post on X, Glassnode co-founder Rafael has discussed about the trend in the various bands of the Bitcoin Active Supply. The “Active Supply” includes that part of the BTC circulating supply that has been involved in at least one transaction over a given timeframe. Related Reading: Bitcoin Officially In Overheated MVRV Zone, Rally....
The percentage of bitcoin unspent transaction outputs (UTXOs) in profit recently topped 98%, the highest level since December 2017.
A crypto analyst has pinpointed the $66,000 mark as a crucial level for the Bitcoin price and its trajectory over the coming weeks. Bitcoin Price Needs To Climb Above $66,000 — Here’s Why Popular crypto pundit Ali Martinez took to the X platform to share an interesting on-chain observation for the price of Bitcoin. This on-chain revelation revolves around the warm supply realized price metric, which is derived from the average purchase price of Bitcoin that has been inactive for one to three months. Related Reading: ADA At A Crossroads: Approaching $0.3389 Support With Potential For A....
A recent report from Bitfinex has shed light on a trend in the Bitcoin market. The report shows despite the unpredictability of the crypto market; long-term Bitcoin holders appear to be playing the patience game, signaling a buoyant outlook on the digital currency. This resilience and sense of optimism come to the fore as Bitfinex’s Alpha report reveals roughly 40% of Bitcoin’s total supply has remained untouched for over three years, marking an all-time high. Related Reading: JPMorgan Shares Prediction On Bitcoin’s Next Move: What You Need To Know Bitcoin Dormant Supply Hits....