Bitrabo Editorial
Despite a recent crash in Bitcoin’s value, long-term holders of the cryptocurrency have shown resilience by increasing their holdings.
Positive Trend in Bitcoin Long-Term Holder Supply
Analysis by Ali Martinez indicates that Bitcoin’s long-term holders have added to their supply during the recent market downturn.
Long-term holders are investors who have kept their Bitcoin for over 155 days, displaying a strong commitment to their investment compared to short-term holders.
While short-term holders react swiftly to market fluctuations, long-term holders stay firm in their position regardless of price movements.
The Net Position Change indicator reveals the net flow of Bitcoin entering or leaving the long-term holder group, showing a positive trend in recent months despite the market’s bearish behavior.
Recent data shows that long-term holders have acquired 184,500 BTC, valued at over $10.8 billion, although this increase reflects purchases made five months ago due to the indicator’s 155-day delay.
However, selling resets the age of Bitcoin to zero when transferred, excluding them from the long-term holder group.
Although the recent increase in Bitcoin holdings by long-term holders does not indicate current accumulation, it does signify their unwavering commitment despite the market crash.
Bitcoin Price Update
As of now, Bitcoin’s price hovers around $58,900, experiencing a nearly 7% decline in the past week.