Data shows the Bitcoin long-term holder supply has surged up recently to near all-time high values as these \u201cdiamond hands\u201d add to their holdings.<\/p>\n
Bitcoin Long-Term Holder Supply Jumps Up By 250k BTC After The Recent Low<\/p>\n
According to the latest weekly report from Glassnode<\/a>, the current total balances of the long-term holders is only 30k away from the ATH.<\/p>\n The \u201clong-term holders<\/a>\u201d (or LTHs in short) is a Bitcoin holder group that includes all those investors who have been holding onto their coins since at least 155 days ago, without having sold or moved them.<\/p>\n Generally, the longer holders keep their BTC still, the less likely they become to sell them. Because of this, LTHs are the less likely investor group to sell at any point.<\/p>\n The opposite cohort is the \u201cshort-term holders\u201d (STHs), who have had their coins in their wallets for less than the 155-day mark.<\/p>\n Now, the \u201cLTH supply\u201d is a measure of the total number of coins currently sitting in the wallets of the investors belonging to this group.<\/p>\n When the STH supply matures enough and reaches the threshold, these coins are then naturally included in the LTH supply.<\/p>\n Here is a chart that shows the trend in the Bitcoin LTH supply over the past couple of years:<\/p>\n\n Looks like the value of the metric has been going up in recent days | Source: Glassnode’s The Week Onchain – Week 36, 2022<\/a><\/p>\n As you can see in the above graph, the Bitcoin LTH supply had been on a decline<\/a> since the ATH and hit a low just a while back.<\/p>\n However, during the last few weeks, the indicator\u2019s value has observed an uplift. Since the low, LTHs have added around 250k BTC onto their holdings.<\/p>\n The report notes that the 155-day threshold puts the minimum acquisition period for these investors to be counted as LTHs to be before the LUNA crash.<\/p>\n Due to this, the report thinks it\u2019s possible the supply of these hodlers will stagnate over the next month, or even until mid-October, where the threshold will have then shifted to the post-selloff period.<\/p>\n BTC Price<\/p>\n At the time of writing, Bitcoin\u2019s price<\/a> floats around $19.8k, down 1% in the last week. Over the past month, the crypto has lost 14% in value.<\/p>\n The below chart shows the trend in the price of the coin over the last five days.<\/p>\n\n The value of the crypto seems to have not moved much in the last few days | Source: BTCUSD on TradingView<\/a> <\/p>\n Data shows the Bitcoin long-term holder supply has surged up recently to near all-time high values as these \u201cdiamond hands\u201d add to their holdings.<\/p>\n Bitcoin Long-Term Holder Supply Jumps Up By 250k BTC After The Recent Low<\/p>\n According to the latest weekly report from Glassnode<\/a>, the current total balances of the long-term holders is only 30k away from the ATH.<\/p>\n The \u201clong-term holders<\/a>\u201d (or LTHs in short) is a Bitcoin holder group that includes all those investors who have been holding onto their coins since at least 155 days ago, without having sold or moved them.<\/p>\n Generally, the longer holders keep their BTC still, the less likely they become to sell them. Because of this, LTHs are the less likely investor group to sell at any point.<\/p>\n The opposite cohort is the \u201cshort-term holders\u201d (STHs), who have had their coins in their wallets for less than the 155-day mark.<\/p>\n Now, the \u201cLTH supply\u201d is a measure of the total number of coins currently sitting in the wallets of the investors belonging to this group.<\/p>\n When the STH supply matures enough and reaches the threshold, these coins are then naturally included in the LTH supply.<\/p>\n Here is a chart that shows the trend in the Bitcoin LTH supply over the past couple of years:<\/p>\n Looks like the value of the metric has been going up in recent days | Source: Glassnode’s The Week Onchain – Week 36, 2022<\/a><\/p>\n As you can see in the above graph, the Bitcoin LTH supply had been on a decline<\/a> since the ATH and hit a low just a while back.<\/p>\n However, during the last few weeks, the indicator\u2019s value has observed an uplift. Since the low, LTHs have added around 250k BTC onto their holdings.<\/p>\n The report notes that the 155-day threshold puts the minimum acquisition period for these investors to be counted as LTHs to be before the LUNA crash.<\/p>\n Due to this, the report thinks it\u2019s possible the supply of these hodlers will stagnate over the next month, or even until mid-October, where the threshold will have then shifted to the post-selloff period.<\/p>\n BTC Price<\/p>\n
\nFeatured image from Aleksi R\u00e4is\u00e4 on Unsplash.com, charts from TradingView.com, Glassnode.com<\/p>","protected":false},"excerpt":{"rendered":"