Long-time investors of the world’s most popular Crypto are refraining from selling their holdings amid the fact that Bitcoin has rallied by more than 800% within a year.
According to Glassnode’s “BTC Percent Supply Last Active 2+ Years” indicator, Bitcoin was last moved well over two years ago and reached a three-month low of 45.364%.
This comes as no surprise as the world’s most popular crypto attracts significant buying pressure from leading global brands that include Tesla, Microstrategy, and Square.
Also, research by Nairametrics reveals that oftentimes, when this type of investors deposit Bitcoin on Crypto exchanges to sell immediately, they eventually don’t sell these assets as the number of entities holding them remain concentrated.
Adding credence to such bias is data from Crypto quant revealing that another $654 million worth of Bitcoin (12,300 BTC) has left Coinbase.
— Bloqport (@Bloqport) March 26, 2021
The number of retail investors keen on holding the world’s most popular crypto asset is on record high as Bitcoin’s number of addresses holding 0.1+ Coins just reached an all-time high of 3,223,643.
— glassnode alerts (@glassnodealerts) March 29, 2021
As Bitcoin’s Percent Unspent Transaction Output in Profit (7d MA) just reached a 1-month low of 96.606%.
The $trillion dollar crypto asset at the time of writing this report traded at $56,186.41 with a daily trading volume of $48 Billion. Bitcoin is up 0.17% for the day.