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Bitcoin

With the rising price of Bitcoin, the number of Bitcoin investors, particularly among institutional investors, hedge funds, and cryptocurrency private funds, has been gradually increasing, and these investors continued to purchase Bitcoin. In a previous <a href="https://news.todayq.com/institutional-investors-accumulated-1-01-million-bitcoin-in-just-602-days/" rel="noopener noreferrer nofollow">report </a>by Todayq News on July 4, 2023, there was a total accumulation of around 1.01 million Bitcoins by these investors in the last 602 days. Another observation made in the report was that there had been minimal distribution activity during this accumulation phase.&nbsp; 
Recently, data from Glassnode, an on-chain analytics firm, over the last year, long-term Bitcoin holders have increased their holdings by more than 1.10 million BTC, valued at approximately $33 billion. These holdings have been continuously increasing since July 2022, when these long-term holders held around 13.3 million Bitcoins. With positive news in the market and increasing interest from asset management firms, long-term Bitcoin holders now hold around 14.4 million Bitcoins as of July 29, 2023. Also, it is observed and tweeted by an individual named @ali on Twitter. 
According to data from Intotheblock, on July 24, 2022, the holdings of whales, investors, and retail were approximately 252.6k Bitcoins (1.32% of total holdings), 2 million Bitcoins (10% of total holdings), and 16.84 million Bitcoins (88.14% of total holdings), respectively, when the price of Bitcoin was trading near $22,600. After a year, it was observed that the holdings of whales and investors had decreased by 0.04% and 0.84%, respectively, whereas retail holdings had increased by 0.89%. Source: IntoTheBlock 
As of July 29, 2023, the Bitcoin concentration by whales and investors was roughly around 10.98%, with one whale holding the highest number of Bitcoins, around 248.6k, which is approximately 1.28% of the total Bitcoin holdings. On the other hand, investors (statistic of 41 investors) held around 1.89 million Bitcoins, which is approximately 9.70% of the total Bitcoin holdings. Source: IntoTheBlock 
Currently, the cryptocurrency sector is rapidly evolving, and governments across the globe are taking action toward cryptocurrency regulations. Countries like the UK, Singapore, Australia, South Korea, and others have already <a href="https://news.todayq.com/uk-passes-game-changing-crypto-regulation-bill-2023/" rel="noopener noreferrer nofollow">passed</a> cryptocurrency regulation bills, while the US is now taking steps towards cryptocurrency regulations and recently <a href="https://news.todayq.com/us-house-committee-passes-another-landmark-crypto-bill-for-stablecoins-and-self-custody/" rel="noopener noreferrer nofollow">passed</a> a crypto bill for stablecoins and others. The actions of the United States government towards cryptocurrency regulations might affect the price of Bitcoin and other related cryptocurrencies, and it’s a positive sign for the cryptocurrency community. 
© Todayq News

Data: Long-term Bitcoin holders increased their holding by 1.10 million

Todayq News

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