Bitcoin Holders Show Resilience as Supply Reaches Record High

Bitcoin Long-Term Holders (LTHs) have increased their supply to a new all-time high, according to the latest weekly report from Glassnode. LTHs are investors who have held their coins for at least 155 days without moving or selling them on the network. The longer an investor holds onto their coins, the less likely they are to sell, making LTHs the part of the market with stronger conviction. The LTH supply measures the total amount of Bitcoin being held in the wallets of these investors. The chart shows that the Bitcoin LTH supply declined during the first half of 2021, but these investors started accumulating again following the bull run. In recent weeks, Bitcoin LTHs have shown a rapid accumulation trend, taking their supply to a new all-time high of 14.46 million BTC, suggesting that these diamond hands haven’t faltered from the recent struggle in the price. At the time of writing, Bitcoin is trading around $27,300, up 1% in the last week.

J-S Tremblay
About the author - J-S Tremblay

I've been involved in the cryptocurrency world since 2016 and trading since 2019. I started Moon and Lambo in 2021. I'm passionate about crypto and love to share my knowledge. I hate bankers and I hope that cryptocurrency will change the financial world for the better. View full profile...

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