Report: Bitcoin Miners, Long-Term Holders Creating BTC Supply Shock
Although small miners realized “a relatively modest amount of profit” in October, big players in the industry aren’t selling.On-chain data suggests a supply shock appears to have led the bitcoin price to surge over 50% in October.“There has been little profit-taking from long-term holders” of BTC, a new Kraken report found.Miners are also stockpiling bitcoin, helping create a supply shock fueling higher prices.A supply shock seems to have contributed to the BTC price appreciating by more than 50% in October, a new report by Kraken Intelligence shows. Kraken’s October 2021 Bitcoin on-chain....
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On-chain data shows that Bitcoin long-term holders now own 76.2% of the entire supply, a new all-time high for the cryptocurrency. 76.2% Of Bitcoin Supply Now Locked In Diamond Hand Holdings In a new post on X, Capriole Investments founder Charles Edwards talked about the trend in the supply of BTC long-term holders. The “long-term […]
Ether supply on exchanges is now at a 9-year low: specifically 18.95 million ETH as of February 18, at the time of writing. This suggests investors are now moving $ETH into cold storage, presumably for long-term HODLing purposes. If the ecosystem is overall looking to hold, rather than trade Ether, the historic all-time lows supply significantly increases the odds of ‘supply shock’ occurring, which would inevitably power an $ETH bull run and skyrocket the price. Basic economics dictate that a supply shock happens when the demand of an asset exceeds the supply, creating a significant gap.....
The total illiquid Bitcoin has reached a new high, providing a bullish outlook for the flagship crypto. This refers to the BTC supply that is unlikely to hit the open, given the long-term holding of the investors who own these coins. Bitcoin’s Illiquid Supply Hits New High Glassnode data shows that Bitcoin’s illiquid supply has reached a new high of 14.3 million BTC, marking over 72% of the flagship’s circulating supply. This supply is held by long-term holders (LTHs) who haven’t moved their coins in over seven years, highlighting a strong conviction in the flagship crypto. Related....
Data shows the Bitcoin long-term holder supply has surged up recently to near all-time high values as these “diamond hands” add to their holdings. Bitcoin Long-Term Holder Supply Jumps Up By 250k BTC After The Recent Low According to the latest weekly report from Glassnode, the current total balances of the long-term holders is only 30k away from the ATH. The “long-term holders” (or LTHs in short) is a Bitcoin holder group that includes all those investors who have been holding onto their coins since at least 155 days ago, without having sold or moved them.....
The supply shock is being unnoticed, similar to Q4 2020 before the price of Bitcoin skyrocketed, says Willy Woo. As Bitcoin (BTC) continues trading sideways inside the $30,000–$40,000 range, new data is emerging about the potential for a bullish breakout.Is Bitcoin silently readying for a breakout like in Q4 2020? Willy Woo, an on-chain analyst, anticipates a potential supply shock in the Bitcoin market, as long-term holders continued raking BTC supply from short-term ones. Woo stated in his Friday newsletter that the process might push more Bitcoin out of circulation.The analyst referred....