According to data from Glassnode, Bitcoin holders determined to hold onto their investments have not been significantly affected by the recent market fluctuations.
Bitcoin HODLers Continue To Accumulate For Long-Term Gains
Glassnode, an on-chain analytics company, reports that HODLing has persisted as the primary trend among long-term Bitcoin holders, referring to a group of investors known as “long-term holders” (LTH) who have held onto their coins for a minimum of 155 days.
The “Supply Last Active Age Bands” indicator can break down the total amount of supply that each “age band” in the market currently has. Coins are classified according to their age depending on how long they have been idle on the blockchain.
With this metric, one can easily monitor the overall supply of LTHs while also gaining insights into the various behaviors exhibited by different segments within this group.
To properly analyze the LTHs, we must focus on the sections that have maintained coin ownership for at least one year. Specifically, we must closely examine the 1+ years, 2+ years, 3+ years, 4+ years, and 5+ years age brackets.
Here’s a graph that indicates the supply of these LTHs throughout the cryptocurrency’s history:
Note that there are no upper limitations on these age groupings. This implies that the resources of the age groups older than them are likewise available to the younger groups. For instance, because it is the youngest band, the 1+ years band includes the data from all the other bands.
The graph above shows that these Bitcoin age bands have been increasing recently, suggesting that market participants hold coins long enough to reach these ranges.
Despite the recent high volatility experienced by BTC, these investors haven’t changed their stock levels significantly. According to Glassnode, “This suggests that HODLing remains the dominant dynamic among longer-term investors, insinuating that further price volatility is required to persuade old hands to spend.”
The supply of the 1+ years group currently accounts for 67.5% of the total circulating BTC supply, a large proportion. As previously mentioned, the percentages automatically decrease with each subsequent group because their supply cannot be greater than the group superior to them.
In general, the longer an investor holds their coins, the less likely they will sell at some point. Partially because the more old coins are, the likelier they will become permanently lost (due to the keys of their wallets no longer being accessible).
The chart illustrates a clear pattern where the older age groups demonstrate a stable outcome, unlike the younger age groups, which display greater fluctuations. This finding confirms the statistical fact mentioned earlier, providing substantial evidence.
Bitcoin Current Price
The current Bitcoin price is $28,509.66, and the trading volume is $17,177,479,654. Bitcoin has increased by 0.39% in the previous 24 hours. It has a total quantity of 21,000,000 BTC coins and a circulating supply of 19,362,281 BTC coins.
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