"Bitcoin's long-term holders hit an all-time high on July 30th, accumulating 14.55 million BTC, a new record within the cryptocurrency's historic timeline. This group's strategy of holding through market volatility plays a significant part in Bitcoin's supply dynamic and price trends. Their increasing number, especially during Bitcoin's price dip under $30,000, led to a notable 9.8% reduction in their realized price. But what does this mean for Bitcoin's future? Their undeterred resolve to accumulate at lower prices could be... "
Long-term Bitcoin holder supply posts new ATH, undeterred by price Long-term Bitcoin holder supply posts new ATH, undeterred by price
The new ATH in long-term holder supply decreased their on-chain cost basis, reducing their average purchase price to $20,332.
2 min read
Updated: Aug. 1, 2023 at 1:40 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
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Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
