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<p style="text-align: justify">According to data provided by the on-chain data and analytics platform Glassnode, long-term investors persistently continue to buy <a href="https://en.coin-turk.com/crypto-market-experiences-a-striking-decline-as-bitcoin-and-ethereum-lose-value/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a> (<a href="https://en.coin-turk.com/federal-reserve-signals-continue-hiking-rates-implications-for-crypto-market/" data-wpel-link="internal" rel="noopener noreferrer nofollow">BTC</a>), contributing significantly to the liquidity shortage in the market. The data indicates the signal of an exaggerated price rally.</p>
<h2 style="text-align: justify" id="strong-bitcoin-hodlers-continue-to-accumulate-btc-strong"><strong>Bitcoin HODLers Continue to Accumulate BTC</strong></h2>
<p style="text-align: justify">The metric showing HODLers’ net position change reveals that long-term investors or wallet addresses with a holding history of at least 155 days have accumulated 50,000 BTC worth $1.35 billion per month.</p>
<p style="text-align: justify"><img decoding="async" class="aligncenter size-full wp-image-265353" src="https://coin-turk.com/wp-content/uploads/2023/10/Bitcoin-HODLer.jpeg" alt="" width="1622" height="934"></p>
<p style="text-align: justify">The total number of BTC held by long-term investors has surpassed 14.85 million, reaching the all-time highest level. The 14.85 million BTC represents 76% of the circulating supply of the largest cryptocurrency.</p>
<p style="text-align: justify">In its latest weekly report, Glassnode stated, “HODLers are accumulating over 50,000 BTC per month. This indicates both a tightening supply and a widespread reluctance to trade.” The on-chain data and analytics platform also added that the market is experiencing a continuous sleep mode in BTC.</p>
<h2 style="text-align: justify" id="strong-increasing-coin-dormancy-trend-in-bitcoin-strong"><strong>Increasing Coin Dormancy Trend in Bitcoin</strong></h2>
<p style="text-align: justify">Dormant coins are those that have not been spent on the chain for a certain period of time. The increasing trend of coin dormancy in Bitcoin implies that coins are being held in illiquid conditions for longer periods. In other words, it indicates a relatively weak supply-side pressure and an exaggerated price rally on the horizon. Historical data shows that Bitcoin has experienced a strong upward movement during similar trends.</p>
<p style="text-align: justify">Data from the cryptocurrency data and price platform CoinMarketCap shows that the largest cryptocurrency BTC traded at $27,261, a decrease of 1.06% in the last 24 hours. Current data indicates that BTC has decreased by 1.11% in the last 7 days and increased by 6.25% in the last 30 days. Furthermore, Bitcoin is priced at approximately 60% below its all-time high of $68,789 reached on November 10, 2021.</p> Continue Reading: <a href="https://en.coin-turk.com/long-term-bitcoin-investors-continue-to-contribute-to-liquidity-shortage/" data-wpel-link="internal" rel="noopener noreferrer nofollow">https://en.coin-turk.com/long-term-bitcoin-investors-continue-to-contribute-to-liquidity-shortage/</a>

Long-Term Bitcoin Investors Continue to Contribute to Liquidity Shortage

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