Bitcoin

<ul><li>Long-term Bitcoin holders stand firm, showcasing resilience and enduring confidence, as Bitfinex Alpha&#39;s report unveils a record-high accumulation trend.</li><li>A remarkable 40% of Bitcoin&#39;s supply has remained inactive for over three years, underlining a prevailing sentiment of optimism.</li><li>Despite the flash crash challenging newer holders, Bitfinex&#39;s insights signal a positive long-term outlook.</li></ul>In a striking testament to enduring confidence, long-term Bitcoin holders are standing their ground, as a recent Bitfinex Alpha <a href="https://blog.bitfinex.com/wp-content/uploads/2023/08/Bitfinex-Alpha-69.pdf" rel="noopener noreferrer nofollow">report</a> revealed. This new trend indicates a prevailing sentiment of optimism within the crypto sphere. The report discloses a remarkable statistic. A substantial 40% of the total Bitcoin supply has remained dormant for over three years, reaching an all-time high in this metric.The study employs the innovative Coin Days Destroyed metric to scrutinize the on-chain behavior of longstanding digital assets. The conclusion is that these assets have conspicuously maintained a dormancy, lying low amid the evolving crypto landscape.According to experts at Bitfinex, who provided their perspectives, &#34;This behavior insinuates a broader sentiment of optimism and potential resilience against market volatilities.&#34; Although Bitcoin has recently not reached the $26,000 mark as August looms closer, the analysis considering a three-year timeline presents an encouraging view of the digital currency&#39;s prospects in the long run.Upon closer examination of the one-year inactive supply metric, Bitfinex&#39;s research shows a contrast in sentiment. The report notes a more bearish tone associated with this shorter timeframe, indicating that movements preceded the Bitcoin flash <a href="https://twitter.com/KaikoData/status/1696489733482799609" rel="noopener noreferrer nofollow">crash</a> on August 17.This crash resulted in over $1 billion in liquidations and temporarily caused BTC&#39;s value to plummet to $25,000.  However, it is worth noting that these &#39;newer&#39; long-term holders, who strategically acquired their positions during the bear market, are seemingly anxious but not panicked, as the analysts reassured.Read full article at <a href="https://cryptotale.org/bitcoin-hodlers-show-resilience-as-long-term-accumulation-hits-record-high/" rel="noopener noreferrer nofollow">CryptoTale.</a>

Bitcoin HODLers Show Resilience as Long-Term Accumulation Hits Record High

CryptoTale

Other articles published on Aug 29, 2023

More businesses adopting crypto: what they should know

Uzbekistan Developing Regulations for Crypto Mining and Token Issuance!

Ordinals Dominate Activity On Bitcoin Despite Price Collapse

Ripple to Party in NYC Over Favorable XRP Ruling!

Ethereum On-Chain Metrics Are Relatively Stable: On-chain Data

What Is Xahau & How Does It Work? How To Get Its XRP+ Tokens?

Join our free newsletter for daily crypto updates!