Long-term BTC holders add to their holdings at a record pace in 2024, with a monthly position growth rate of 6.3 percent

CryptoQuant analysts note that since April 2023, BTC long-term holders have added to their holdings at the fastest rate. The latest market report shows that the BTC giant whale has seen a monthly position growth rate of 6.3%, indicating that demand for BTC is on the rise. While the confiscation of BTC by the German and U.S. governments, as well as the distribution of funds from Mt. Gox, have increased market supply, demand from long-term holders has supported the BTC price. However, the report also noted that the lack of liquidity in the stablecoin could slow down the rally in BTC prices, especially if USDT's market cap growth slows down.