- Data shows that More than 76.5% of bitcoin supply has been held for more than half a year making a record high.
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Bitcoin has been performing not so good for the past couple of weeks and months. After touching the all time high at around $69,000 Bitcoin dropped back to $32,000 in a few weeks.
While the whole crypto community is panicking whether bitcoin bull run has ended or there will be a bear market for upcoming years.
Bitcoin is currently trading at around $37,580 and is down around 5% within the last 24 hours.
Despite the bitcoin crash, Data Report Shows that more than 75.6% of total bitcoin supply has been help for more than 6 months which shows that investors are bullish on bitcoin.
As per data image from Glassnode above shows the Bitcoin HODL Waves.
This also shows that these bitcoins were not moved during the bitcoin all time highs at $69,000 representing that bitcoin on chain data looks extremely bullish.
While it’s better to remember that ups and downs are part of a market structure and should not panic sell. Bitcoin is extremely volatile so the whole crypto market is.
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