While Bitcoin continues to consolidate at $ 29,000, a new Bitcoin report came from Glassnode.
Glassnode's chain analyst Checkmate said that the number of Bitcoins held by long-term Bitcoin holders has reached an all-time high.
Citing Glassnode data, the analyst stated that long-term Bitcoin investors (addresses that have held Bitcoin for at least 155 days) currently hold 14.59 million BTC.
The analyst also said that over the past seven days, the total balance held in these wallets has increased by 43,949 Bitcoins.
Stating that the long-term held BTC rate has broken a record, Glassnode analyst stated that this rate has reached 75%.
“Long-Term investor supply has reached an all-time high. Long-term Bitcoin investors currently hold 14.59 million BTC. It represents 75% of circulation.”
These numbers show that investors are choosing to hold on to Bitcoin assets for a long time and have growing faith in its potential to serve as a store of value.
This also shows that the HOLD policy is the preferred market dynamic among mature investors.
The Glassnode analyst also noted that Bitcoin volatility has dropped to historic lows.
“The volatility for Bitcoin has dropped to historic lows.
In the time periods from 1 month to 1 year, this level was the lowest.
Historically, such low volatility coincides with the post-bear market reaccumulation phase.”
*Not investment advice.