Cryptocurrency

Bitcoin

Rupee

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 <p class="paragraph">Bitcoin (BTC) has been trading in what is usually called an “accumulation zone”, ranging from $24,756 to $31,818 since mid-March 2023. During these last six months of low-price activity, short-term holders liquidated their positions, while high-conviction <a rel="noopener noreferrer nofollow" title="long-term" href="https://thebittimes.com/tag/long-term.html">long-term</a> holders increased their share of Bitcoin’s limited supply.</p> 
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 <p class="paragraph">Co-founder of <em>Reflexivity Research</em>, Will Clemente, shared a <em>Glassnode</em> chart on September 28 on X (formerly Twitter) showing that three out of every four Bit<a rel="noopener noreferrer nofollow" title="coins" href="https://thebittimes.com/tag/coins.html">coins</a> in circulation are now in the hands of what <em>Glassnode</em> calls ‘Long Term Holders’.</p> 
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  <p class="paragraph">“There it is – The percentage of Bitcoin supply held by <a rel="noopener noreferrer nofollow" title="long-term" href="https://thebittimes.com/tag/long-term.html">long-term</a> holders just officially reached its highest level ever at 76.09%.”</p> <cite>— Will Clemente (@WClementeIII)</cite> 
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  <img decoding="async" loading="lazy" width="1024" height="576" src="https://cdn.thebittimes.com/images/2023/09/29/12020fcf438056933a40913c827811f0.webp" alt="Bitcoin – Long-term holders since 2011." class="wp-image-130481" srcset="https://cdn.thebittimes.com/images/2023/09/29/12020fcf438056933a40913c827811f0.webp 1024w, https://cdn.thebittimes.com/images/2023/09/29/12020fcf438056933a40913c827811f0.webp 300w, https://cdn.thebittimes.com/images/2023/09/29/12020fcf438056933a40913c827811f0.webp 768w, https://cdn.thebittimes.com/images/2023/09/29/12020fcf438056933a40913c827811f0.webp 1536w, https://cdn.thebittimes.com/images/2023/09/29/12020fcf438056933a40913c827811f0.webp 1800w" sizes="(max-width: 1024px) 100vw, 1024px"> 
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    Bitcoin – Long-term holders since 2011. Source: <em>Glassnode</em> 
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 <p class="paragraph">According to the Glassnode metric’s description, <a rel="noopener noreferrer nofollow" title="long-term" href="https://thebittimes.com/tag/long-term.html">long-term</a> holders are crypto wallet addresses that received and are holding Bitcoin UTXOs for longer than 155 days. Interestingly, <em>Glassnode Academy </em>says that after a 155-day holding, Bitcoin addresses are less likely to spend their <a rel="noopener noreferrer nofollow" title="coins" href="https://thebittimes.com/tag/coins.html">coins</a>.</p> 
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 <p class="paragraph">While short-term holders come and go looking for quick profits in high volatility scenarios, <a rel="noopener noreferrer nofollow" title="long-term" href="https://thebittimes.com/tag/long-term.html">long-term</a> holders are in for the bigger game, often using a dollar-cost averaging strategy, buy and hold strategies, or what is called position trading — in opposed to swing trading or day trading, that are more of short-to-mid term trading strategies.</p> 
 <h2 class="wp-block-heading" id="h-bitcoin-price-analysis">Bitcoin price analysis</h2> 
 <p class="paragraph">Meanwhile, BTC has again crossed the $27,000 price mark, being traded at $27,169 per coin on a remarkably positive day. Accruing for 3.54% gains in the last 24 hours.</p> 
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  <img decoding="async" loading="lazy" width="1024" height="683" src="https://cdn.thebittimes.com/images/2023/09/29/7ecc5dbc5783b37f88296e84d2559f57.webp" alt="BTC 1-day price chart. " class="wp-image-130482" srcset="https://cdn.thebittimes.com/images/2023/09/29/7ecc5dbc5783b37f88296e84d2559f57.webp 1024w, https://cdn.thebittimes.com/images/2023/09/29/7ecc5dbc5783b37f88296e84d2559f57.webp 300w, https://cdn.thebittimes.com/images/2023/09/29/7ecc5dbc5783b37f88296e84d2559f57.webp 768w, https://cdn.thebittimes.com/images/2023/09/29/7ecc5dbc5783b37f88296e84d2559f57.webp 1200w" sizes="(max-width: 1024px) 100vw, 1024px"> 
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    BTC 1-day price chart. Source: Finbold 
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 <p class="paragraph">As fewer Bitcoin investors are willing to spend (or sell) their coins at record levels, the price of the leading cryptocurrency has started rising with a recent increase in the demand for BTC on the crypto market.</p> 
 <p class="paragraph"><strong><em>Disclaimer:</em></strong><em> The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p> 
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/record-3-out-of-4-bitcoins-are-held-by-long-term-investors-tbt64429.html">https://thebittimes.com/record-3-out-of-4-bitcoins-are-held-by-long-term-investors-tbt64429.html</a></p>

Record: 3 out of 4 Bitcoins are held by long-term investors

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