HODL

Bitcoin

Change

<ul> 
 <li>Although the price of Bitcoin remains in the $30,000 range, the trend of accumulating digital currency continues.</li> 
 <li>While hodling continues to dominate, Bitcoin’s Illiquid Supply Change remains high, reaching levels close to its peak cycle.</li> 
 <li>Despite regulatory challenges, the market is quietly accumulating Bitcoin, indicating underlying demand.</li> 
</ul> 
Institutional and individual investors continue to accumulate Bitcoin; Current data shows that the Bitcoin HODL race has begun. 
<h2 id="strong-bitcoin-hodl-strengthens-strong">Bitcoin HODL Strengthens</h2> 
<img decoding="async" class="alignnone size-full wp-image-126948" src="https://en.coinotag.com/wp-content/uploads/2023/04/Bitcoin-Price-Forecast-Is-it-Ready-for-a-Rise.jpg" alt="Bitcoin (BTC)" width="1920" height="1080"> 
Although the price of Bitcoin remains in the $30,000 range, the trend of accumulating digital currency continues. According to recent data, Bitcoin’s illiquid supply level indicates that the hodling race has begun. 
While hodling continues to dominate, Bitcoin’s Illiquid Supply Change remains high, reaching levels close to its peak cycle. According to Glassnode, a large amount of coins are being directed to wallets with minimal or no spending history, accumulating at a rate of over 194,500 BTC monthly. 
This flow of Bitcoin (BTC) is being directed towards illiquid assets, similar to network participants who rarely spend their assets, at almost the fastest pace in half a year. 
Furthermore, this trend strongly indicates a preference for accumulation among long-term investors. The continuous and gradual flow of funds into illiquid wallets provides further evidence of this ongoing accumulation process. 
Despite regulatory challenges, the market is quietly accumulating Bitcoin, indicating underlying demand. Additionally, the accelerated accumulation indicates a decrease in the current supply, potentially paving the way for a price increase. 
<h2 id="strong-microstrategy-joins-btc-accumulation-trend-strong">Microstrategy Joins BTC Accumulation Trend</h2> 
As a recent development, institutional investors have taken a significant step in their BTC accumulation efforts. For example, Microstrategy successfully purchased over $300 million worth of BTC and contributed to the ongoing accumulation trend. This significant move reflects the continuous accumulation of institutional players and individual investors, highlighting the ongoing interest of institutions. 
Furthermore, the decrease in Bitcoin supply on exchanges serves as additional evidence of the illiquid nature of this asset. According to Santiment, the current supply stands at approximately 6.24 at the time of writing. This criterion indicates that despite ongoing accumulation by individuals and institutions, there are no signs of selling or significant influx of supply into the market. 
<a href="https://en.coinotag.com/wp-content/uploads/2023/06/As-the-Accumulation-Trend-of-Bitcoin-Continues-BTC-HODL-Strengthens.png"><img decoding="async" loading="lazy" class=" td-modal-image alignnone wp-image-134384 size-full" src="https://en.coinotag.com/wp-content/uploads/2023/06/As-the-Accumulation-Trend-of-Bitcoin-Continues-BTC-HODL-Strengthens.png" alt="bitcoin-exchange-supply-2" width="2560" height="867"></a> 
This collective behavior demonstrates a strong belief in the long-term value of Bitcoin, as investors choose to hold their assets rather than realize profits. The continuous accumulation from different market participants emphasizes confidence in Bitcoin’s potential and continuous growth. 
<h2 id="strong-bitcoin-price-movement-strong">Bitcoin Price Movement</h2> 
Currently, there is a modest increase in the value of Bitcoin. On the daily timeframe chart, BTC has remained in the $30,000 range with a 1% increase, trading at approximately $30,500. Specifically, a new resistance level of around $31,600 is emerging, while support remains stable at around $29,000. 
Furthermore, it can be observed that BTC is moving away from the overbought zone according to the Relative Strength Index (RSI). Although the RSI line has experienced a decline, indicating a decrease in momentum, it shows that Bitcoin continues its strong bullish trend. 
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As the Accumulation Trend of Bitcoin Continues, “BTC HODL” Strengthens

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