Bitrabo Editorial
Recent on-chain data reveals that long-term Bitcoin holders who have held their coins for over five years have remained resolute despite recent market turbulence.
Over 30% of Bitcoin Supply Untouched for 5 Years or More
According to insights shared by market intelligence platform IntoTheBlock, a significant percentage of the total circulating Bitcoin supply is in the hands of investors who made purchases more than five years ago.
The longer holders keep their coins dormant, the less likely they are to move or sell them. These “long-term holders” (LTHs) are seen as having strong hands in the market.
Defined as investors who bought at least a year ago, LTHs who have held onto their coins for at least five years are considered particularly resilient. However, it’s worth noting that coins inactive for this long may have been lost or forgotten.
Although some of this inactive supply may be due to lost funds, most likely belongs to long-term holders committed to “HODLing,” according to IntoTheBlock.
An accompanying chart illustrates the trend in supply held by this segment of LTHs over the past decade:
The chart indicates a decline in supply earlier in the year, possibly indicating some investors moving their coins. However, this behavior is uncommon for steadfast LTHs who tend not to engage in selling. The indicator has since been increasing, suggesting a decrease in selling activity.
Despite the recent market crash, these veteran holders have remained undeterred, indicating a strong belief in Bitcoin’s value amidst volatility.
Currently, this group of Bitcoin long-term holders controls over 30% of the supply, signifying a significant portion of the cryptocurrency’s total supply has remained inactive for over five years.
Bitcoin Price Update
As of the latest update, Bitcoin is trading at approximately $55,600, marking a decline of more than 9% over the past week.