[Taklimakan Blog] 58% of All Bitcoins Ended up in Long-Term Holders Wallets
Long-term investors continue to move coins even despite another Bitcoin drawdown below the $33,000 level
Long-term investors (LTH) continue to accumulate bitcoin, which often occurs during times of market uncertainty. This is the conclusion reached by analysts at Glassnode. According to on-chain analysis, LTH now holds 10.9 million BTC, which is more than 58% of the coins in circulation.
The formed fractal more and more resembles the market of the end of 2017 — the beginning of 2018. Then LTH also stopped spending, initiating the accumulation of coins.
The last time hodlers accumulated Bitcoin was from May to September 2020. However, then they bought much fewer coins (+250,000 BTC per month). Moreover, today LTH owns 2.3 million BTC more (+ 8% of the circulating supply) than at the peak of 2017.