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Bitcoin Long-Term Holders Boost Supply as Accumulation Trends Increase

Bitcoin Long-Term Holders Boost Supply as Accumulation Trends Increase

CryptodnesCryptodnes2024/10/04 07:09
By:Cryptodnes

New data reveals that Bitcoin long-term holders (LTHs) have significantly increased their supply over the past month.

According to CryptoQuant’s Maartunn, a growing number of Bitcoin assets are now classified as held for the long term, defined as coins held for more than 155 days.

959,000 Bitcoin has been converted into Long-Term Holder Supply over the last 30 days 💪 #Bitcoin #Investing #Crypto pic.twitter.com/hBxiGSEzl8

— Maartunn (@JA_Maartun) October 1, 2024

This long-term cohort contrasts with short-term holders (STHs), who tend to be more reactive to market fluctuations. The LTH Net Position Change metric measures the overall shifts in supply for long-term holders; a positive reading suggests an increase in their holdings.

READ MORE:
Bitcoin Faces Critical Demand Challenges as Q4 Begins

Recent trends indicate that LTH supply rose by 959,000 BTC within the last month, suggesting that many coins have matured into this group.

This uptick comes after a previous drop in supply earlier in the year when Bitcoin reached all-time highs, prompting even long-term holders to take profits.

While the current increase does not signify new purchases, it demonstrates that investors are choosing to hold onto their assets, which is a favorable sign for market resilience.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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