2 reactions
Only 11.5% of BTC's circulating supply changed hands in last 3 months which is a new all-time low.
So amount of on-chain Bitcoin transactions in last 3 months just reached new all-time low. This does mean that Bitcoin holder's conviction are quite strong and quite long term orientated, and that huge majority of people holding Bitcoin are not ready to sell at these prices. Of course these charts do not account, or can detect for lightning network BTC transactions or all the trades happening on all CEX marketplaces.
Glassnode's holding chart data https://preview.redd.it/h4gxf2zlfjtb1.jpg?width=1800&format=pjpg&auto=webp&s=7ad95a2321d10fc6348915619032ce0c38a2b7bf
Another all time high reading (evident by the chart below) is the fact that just over 95% of BTC's circulating supply hasn't moved at all in 1 month which is an unprecedented amount of mid term holding.
Glassnode's 7d moving avg data https://preview.redd.it/756ktiwofjtb1.jpg?width=1800&format=pjpg&auto=webp&s=e990a3a41d719922e31d8a4b43bfa8e0b555756c
So basically not much Bitcoin is being moved or traded between wallets lately, which could be interpreted as a good thing in terms of knowing BTC holder's convictions and how most are not ready to sell at these prices, but on the other side it might be a bad thing if you already thought that Satoshi's original vision of peer-to-peer electronic cash system didn't fulfill itself as a means of paying for actual goods and actually being served as an everyday currency, rather than being mostly used as a store of value.
#cryptocurrency
So amount of on-chain Bitcoin transactions in last 3 months just reached new all-time low. This does mean that Bitcoin holder's conviction are quite strong and quite long term orientated, and that huge majority of people holding Bitcoin are not ready to sell at these prices. Of course these charts do not account, or can detect for lightning network BTC transactions or all the trades happening on all CEX marketplaces.
Glassnode's holding chart data https://preview.redd.it/h4gxf2zlfjtb1.jpg?width=1800&format=pjpg&auto=webp&s=7ad95a2321d10fc6348915619032ce0c38a2b7bf
Another all time high reading (evident by the chart below) is the fact that just over 95% of BTC's circulating supply hasn't moved at all in 1 month which is an unprecedented amount of mid term holding.
Glassnode's 7d moving avg data https://preview.redd.it/756ktiwofjtb1.jpg?width=1800&format=pjpg&auto=webp&s=e990a3a41d719922e31d8a4b43bfa8e0b555756c
So basically not much Bitcoin is being moved or traded between wallets lately, which could be interpreted as a good thing in terms of knowing BTC holder's convictions and how most are not ready to sell at these prices, but on the other side it might be a bad thing if you already thought that Satoshi's original vision of peer-to-peer electronic cash system didn't fulfill itself as a means of paying for actual goods and actually being served as an everyday currency, rather than being mostly used as a store of value.
#cryptocurrency
| 20,000 mlx | |
| 27 | |
| 2 |