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....
Related News
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 —....
The percentage of bitcoin unspent transaction outputs (UTXOs) in profit recently topped 98%, the highest level since December 2017.
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....
Cryptocurrency markets have seen intense gains on Wednesday after the payment processor Paypal announced it would be supporting digital currencies. At the time of publication, the market cap of all 7,000+ digital assets has gained 5.6% hovering above $379 billion during the afternoon trading sessions. Digital currency markets have increased a great deal during the last 24 hours as the aggregate crypto market capitalization is nearing $400 billion. The price of bitcoin (BTC) spiked on Wednesday morning after Paypal revealed cryptocurrency support during the morning trading sessions. BTC has....
Bitcoin’s new all-time highs appear to have been triggered by a dramatic reduction in active supply over recent months. Bitcoin investors appear to be increasingly sitting on their hands in hopes of higher prices, with the share of Bitcoin’s supply that has remained inactive for the past three months spiking to a record high of 85%. On-chain analytics provider Glassnode identified the milestone in its Nov. 8 “The Week Onchain” report, concluding: “Investors are just not spending their coins.”Addresses that have not moved their BTC in 12-months, dubbed “long-term holders” (LTH), are among....