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  • Bitcoin
  • More than 80% of bitcoin supply is held by long-term holders

More than 80% of bitcoin supply is held by long-term holders

 تاریخ انتشار :
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  Bitcoin

TL; DR failure:

  • Long-term investors have the majority of bitcoin supply in circulation.
  • Only 9.4% of LTH positions are lost.

According to the latest information, a significant percentage of bitcoin in circulation now belongs to long-term holders (or LTH). Information From Glassnode, these data basically indicate that there may not be a sudden decline or sell-off of BTC in the market soon, as is usually the case for short-term holders (or STHs). This is to keep the price of Bitcoin in the uptrend.

LTHs dominate the supply of bitcoins

According to the chain analyst provider, about 80.5% of the bitcoin supply is currently held by long-term holders, the highest level ever recorded in the history of bitcoin. Conversely, short-term holders account for only 19.5% of turnover. Assuming a supply of 18,827,731 BTC on CoinMarketCap, STHs have only about 3.671 million BTC.

More than 80% of the bitcoin supply is held by long-term holders1

Glassnode also broke the LTH position, noting that only 9.4 of the bitcoin supply to long-term holders is losing, while 71.1 is currently gaining momentum. Unlike STHs, LTHs are better known for HODLing. Given the size of the position of LTHs, today the data somewhat explain the increase in bitcoin accumulation and why, despite the bitcoin reform, there has been no significant reduction in exchanges.

Bitcoin will be reduced to the 2018 level in exchanges

Bitcoin holdings in exchanges have been steadily declining in recent months. According to separate Glassnode data, at present, the BTC balance in exchanges has reached the level last seen in August 2018, which shows the lowest level of 3.5 years.

More than 80% of bitcoin supply is held by long-term holders2

However, Bitcoin has not made any significant moves since last week. CoinMarketCap is currently down 0.32 (24 hours) at $ 43,320.

More than 80% of Bitcoin supply is held by long-term holders3