Bitcoin's long-term holder supply approaches record high, breaking multi-year downtrend
Hex37's read
- Long-term Bitcoin holder supply reached 16.3 million BTC.
- Supply increased by over 2 million coins during the bear market.
- This shift marks a break in a multi-year downtrend for long-term holdings.
What it means for traders
- High long-term holder supply suggests reduced liquid supply, potentially creating a supply shock during rallies.
- Accumulation by long-term holders indicates strong conviction and may signal a market bottom.
Affected markets
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