Bitcoin Long-Term Holder Supply Jumps Up By 250k BTC After The Recent Low
According to the latest weekly report from , the current total balances of the long-term holders is only 30k away from the ATH.The “long-term holders” (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.
Looks like the value of the metric has been going up in recent days | Source:
As you can see in the above graph, the Bitcoin LTH supply had been on a decline since the ATH and hit a low just a while back.
However, during the last few weeks, the indicator’s value has observed an uplift. Since the low, LTHs have added around 250k BTC onto their holdings. 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. Due to this, the report thinks it’s 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.BTC Price
At the time of writing, Bitcoin’s price floats around $19.8k, down 1% in the last week. Over the past month, the crypto has lost 14% in value.
The below chart shows the trend in the price of the coin over the last five days.The value of the crypto seems to have not moved much in the last few days | Source:
Featured image from Aleksi Räisä on Unsplash.com, charts from TradingView.com, Glassnode.com