On-chain data shows a majority of the Bitcoin supply hasn’t moved in more than two years, despite the fact that BTC has seen a significant uplift during this period. Bitcoin Inactive Supply Trend Suggests HODLing Behavior Remains Strong In a new post on X, Glassnode co-founder Rafael has discussed about the trend in the various bands of the Bitcoin Active Supply. The “Active Supply” includes that part of the BTC circulating supply that has been involved in at least one transaction over a given timeframe. Related Reading: Bitcoin Officially In Overheated MVRV Zone, Rally End Near? Below is the chart shared by the analyst that shows how the Bitcoin Active Supply has changed for a few different age bands over the last couple of years. From the graph, it’s visible that the age bands on the younger side like 1 month to 3 months and 3 months to 6 months have been observing growth recently, which suggests the relatively recent supply has been churning as a result of the price surge. The older bands, however, have been more or less showing a sideways movement on this indicator. The chart displays all the Active Supply bands up to the 1 year to 2 years group stacked on top of each other, to showcase what percentage of the total supply that they make up for. It would appear that these Active Supply bands add up to 46%, meaning that less than half of the cryptocurrency’s supply in circulation has witnessed some movement within the past couple of years. The 2-year cut off currently sits in November 2022, when the last Bitcoin bear market reached a bottom. Given the trend in the Active Supply, it seems that the investors who bought during and prior to the bottom have largely decided to HODL. Interestingly, this is despite the fact that the asset’s value has seen an uplift of more than 500% since then. “HODLing isn’t just a meme,” notes the Glassnode co-founder. Statistically, the longer investors hold onto their coins, the less likely they become to participate in selling, so considering that 54% of the supply hasn’t seen movement for over two years now, it’s possible a lot of these holders would only continue to sit tight in the near future. Related Reading: Shiba Inu Could See A 53% Surge If This Resistance Breaks, Analyst Explains In some other news, the Deribit exchange has observed massive Bitcoin outflows during the past day, as an analyst has pointed out in a CryptoQuant Quicktake post. In total, users of the platform have transferred out a net 31,000 BTC to their self-custodial wallets with these transactions. The investors may have made these moves for accumulation purposes, which can naturally be a bullish sign for the asset’s price. BTC Price Bitcoin has now gotten very close to the $100,000 dream target as its price is currently trading around the $98,900 mark. Featured image from Dall-E, CryptoQuant.com, chart from TradingView.com
The Bipartisan Policy Center says the US government’s multi-trillion dollar debt is now a clear threat to national security. The Washington-based think tank highlights in a blog post that the US shelled out nearly $1 trillion just to pay the interest of its ballooning national debt during the 2024 fiscal year (FY), which ran from The post $36,000,000,000,000 US Debt Is National Security Issue As Massive Interest Payments Mount: Washington-Based Think Tank appeared first on The Daily Hodl .
Dogecoin has revamped from a strong ascending trend after rising above its consolidation around $0.36. The bears also seem to have room to expand as the bulls have not gained the required strength
Cramer has had a somewhat controversial history with bitcoin and crypto.
Investors are imminently anticipating the bull run as Bitcoin nears the coveted $100k mark. Alt-coins like Cardano and XRP are yet to significantly rally to the same degree as the crown jewel, though Cutoshi is set to soar as soon as alt-coin season kicks in.
VeChain (VET) has recently surged over 45% in just 24 hours, driven by a bullish sentiment across the cryptocurrency market as Bitcoin approaches $100,000. This significant price increase underscores VeChain’s
Shiba Eats Pepe could turn early investors into multi-millionaires, like other memecoins, such as Shiba Inu (SHIB) and Dogecoin (DOGE), did. Shiba Eats Pepe (SHIBPEPE), a Solana memecoin launched today, is set to explode over 16,000% in price in the coming days. This is because SHIBPEPE is set to soon be listed on numerous crypto exchanges, according to reports. This will give the Solana memecoin exposure to millions of additional investors, who will pour funds into the coin and cause its price to rally, which will benefit investors who buy before these new exchange listings. Currently, Shiba Eats Pepe can
The post Will BTC Cross $100K Mark? Crypto Whales Buy $4 Billion of Bitcoin appeared first on Coinpedia Fintech News Bitcoin (BTC), the world’s largest cryptocurrency by market cap, is making waves in the crypto market with its impressive performance. Amid this bullish sentiment, a prominent crypto expert posted on X (formerly Twitter) today, November 23, 2024, highlighting that Bitcoin whales have made significant purchases over the past four trading days. Whales Buys 40,000 Bitcoin …
Following Gary Gensler's resignation, the most likely SEC Chairman is constantly changing. Here's the latest. Continue Reading: Most Likely Name to Become SEC Chairman Has Changed Again: Here Are the Latest Rumors and Cryptocurrency Views of the New Top Candidate