• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
No Result
View All Result
Breaking News: Dogecoin (DOGE) Soars 8%, But An Uptick In This Metric Suggests A Pullback
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play GamesTry
  • Play Casino GamesTry
No Result
View All Result
NewsBTC
No Result
View All Result
Breaking News: Dogecoin (DOGE) Soars 8%, But An Uptick In This Metric Suggests A Pullback

The Amount of Bitcoin That Hasn’t Moved In a Year Hits an All-Time High

Joseph Young by Joseph Young
3 years ago
in Technical analysis
Reading Time: 2 mins read
Advertisement

The number of Bitcoin that has not moved in over 12 months achieved a new all-time high. The statistic indicates investors are confident in the long-term trend of BTC.

Dan Held, who leads business development at a top U.S. Bitcoin exchange Kraken, said:

“61% of Bitcoin hasn’t moved in over a year. That’s an all-time high.”

bitcoin The supply of Bitcoin that has not moved for more than a year hits an all-time high. Source: Glassnode

Other metrics generally suggest that the level of “HODLing” has been increasing steadily since the start of 2020.

Get 30 FREE SPINS at Punt Casino - NO DEPOSIT REQUIRED! Start Playing Now.
No Deposit 40 FREE SPINS at Wild.io on SIGN UP. Wheel of fortune, daily bonuses, 10 BTC in prizes monthly! Start Playing Now!

Following a “Black Swan” Event, Rising Long-Term Holders is Optimistic

On March 13, the cryptocurrency market plummeted following a U.S. stock market crash. More than $160 billion in value was wiped out, as Bitcoin dropped below $3,600 on BitMEX.

Despite the “black swan” occurrence merely three months ago, investors remain highly confident in Bitcoin.

The 1-year supply of Bitcoin typically reflects investors who are holding Bitcoin with a long-term thesis. It includes investors that foresee Bitcoin evolving into a major store of value as gold 2.0 and those that see BTC as a hedge against inflation.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?

Retail or individual investors often store their Bitcoin on non-custodial wallets or exchanges, so they are identifiable. Institutional investors, however, gain exposure to BTC through strictly-regulated investment vehicles like the Grayscale Bitcoin Trust.

As such, the lack of movement in the Bitcoin supply that did not move for 1 to 3 years may reflect retail investors that are holding BTC.

bitcoin priceThe drop of Bitcoin to sub-$4,000 and its recovery since. Source: TradingView.com

Retail “HODLing” Coincides With Institutional Adoption

The data point which shows an optimistic trend among retail investors coincides with rising institutional adoption.

The assets under management (AUM) of the Grayscale Bitcoin Trust is also at an all-time high. It is now well over $3.5 billion, surpassing the trust’s AUM in December 2017, when the price of Bitcoin was at a record high.

The positive sentiment around Bitcoin and the resilience of the cryptocurrency market can be narrowed down to two major factors.

First, the May 11 halving prompted optimism towards the likelihood of an exponential bull run in the years to come. Two previous halvings marked the start of prolonged uptrends in 2012 and 2016.

Second, the V-shape recovery of the cryptocurrency market led institutional investors to praise Bitcoin’s survivability. The shift in stance towards crypto assets changed particularly after Bitcoin’s unexpected recovery following an unprecedented sell-off in the first quarter of 2020

As the outflow of Bitcoin on cryptocurrency exchanges gear towards a multi-year low, analysts expect the number of retail investors holding BTC to increase.

The low reserves of Bitcoin on top exchanges in comparison to previous years suggest that the appetite to trade cryptocurrencies in the near-term, at least among retail investors, is at a low point.

Tags: bitcoinbtcusdBTCUSDTxbtusd
Tweet123Share206ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Joseph Young

Joseph Young

Joseph is a web developer and designer, writer and a passionate musician who loves to travel often. He's worked as a researcher for a number of venture capital firms and as a freelancer designer for resorts and corporations in Korea and the Philippines.

Related Posts

Polygon {MATIC}

Polygon (MATIC) Surges Nearly 10% As zkEVM Network Update Draws Near

2 days ago
MATIC Price Prediction

MATIC Price Prediction: Rallies 10%, Polygon Bulls Aim Big

3 days ago
Ethereum Price

Ethereum Price Another Rejection Signals Risk of Bearish Reaction

3 days ago
Bitcoin

Bitcoin Price Holds Key Support But The Bulls Seem To Be Losing Steam

3 days ago
XRP Whales Accumulate Almost 60.2 Million Tokens, Is A Bull Run Coming?

XRP Whales Accumulate Massive Tokens – Is A Bull Run Coming?

3 days ago
Solana Price Rallies Over 10%

SOL Price Prediction: Solana Rally Could Gather Pace above $30

4 days ago

Premium Partners

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Trust Dice

Trust Dice

Review · Visit
Metaspins

Metaspins

Review · Visit
Coinplay

Coinplay

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
mBit

mBit

Review · Visit
Vave

Vave

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit
Coinplay

Coinplay

Review · Visit

Fantom (FTM) founder makes announcement as they complete 100% rally, Solana (SOL) development updates & Why investors are flocking to Snowfall Protocol (SNW)

January 29, 2023

Dogecoin (DOGE) and Axie Infinity (AXS) Don’t Offer The Same 1000x Potential As Snowfall Protocol (SNW) According To Market Analysts

January 29, 2023

Crypto Market News Live: Aptos Soars Another 60% This Week in A Continued Price Rally, PancakeSwap Burns $100m Worth Of CAKE, Snowfall Set to Moon After Exceptionally Successful Presale Campaign

January 29, 2023

BudBlockz’s 220% Growth Puts It Ahead of Dogelon Mars and Floki Inu

January 28, 2023

MATIC Gains Over 20% As Polygon Network Records Biggest Whale Transaction Of 2023

January 28, 2023

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Links

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

Company

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

© 2022 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Events
  • Play Games
  • Play Casino Games

© 2022 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.