New Record for Bitcoin: Long-Term Holders Reach Historic High with 14.599 Million BTC Held
Bitcoin reaches new record with highest ever BTC held by long-term holders, representing 75% of circulating supply.
According to on-chain data analysis provided by Glassnode, Bitcoin has reached a new record, marking a historic high in BTC held by long-term asset holders. Specifically, 14.599 million BTC are now held, the highest value ever recorded, made possible by an increase of 43,949 tokens in the last seven days, equivalent to $1.27 billion.
Long-term holders have been identified by examining addresses that have retained BTC for at least 155 days. Statistically, this type of investor is presumed not inclined to sell, thus being associated with a "hodler." This amount simultaneously represents 75% of Bitcoin's circulating supply, suggesting that more and more investors are inclined to hold their assets for long periods.
Bitcoin's Volatility Drop
At the same time, this holding pattern indicates a growing belief that investors can consider Bitcoin an effective form of value reserve.
The analysis also accompanies another interesting observation: the recent collapse of Bitcoin's volatility. Historically, low volatility has often preceded a price increase, the most apparent effect of a "re-accumulation" phase.
Although BTC has lost about 4.3% in the last month, the asset's situation remains stable after reaching an annual ATH (All-Time High) of $31,500 on the wave of requests for a spot ETF. Most importantly, it's positive for 2023, with a +75% increase since January, outperforming stock indices like Nasdaq (+33%) and Dow Jones (+5.82%).