- Bitcoin (BTC) market is in a bullish trend in the last 24-hours.
- BTC has returned to cost-basis charts after the recent price surge.
- Long-term holders’ confidence is strong even in a bear market.
More than 48,25% of long-term cryptocurrency investors have not moved their Bitcoin (BTC) coins in more than two years, according to the most recent statistics, which indicates that a new all-time high (ATH) has been achieved. The confidence of long-term investors, even when the market is doing poorly.
According to analytics, falling markets encourage the digital currency to reach new highs because the levels are either too low for many people to sell, or they are firmly committed enough to not be persuaded by any short-term noise. In any case, the levels cause digital currency to create new records.
As per sources, the bear market circumstances suggest that long-term holders’ confidence is strong even in a bear market, and that most long-term BTC holders are not willing to release their coins anytime soon because they believe the market has still to have another bullish run.
However, investors were warned that the “allure of profits after a lengthy bear market tend to drive supply to re-enter liquid circulation.” According to the findings of a recent study conducted by Glassnode, short-term holders as well as miners have recently been urged to liquidate sections of their cryptocurrency holdings.
Using data from Glassnode, we can see that the one-year BTC metric has reached a new all-time high (ATH) of over 85%, while the two-year metric has reached a new all-time high of over 48.25%. This demonstrates strong confidence among investors who acquired cryptocurrency during the bull market but have since seen the value of their investments decrease.
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Kelvin enjoys writing about cryptocurrency and blockchain. He started blogging in 2019 and switched to cryptocurrency in 2020. Kelvin is interested in technology, football, chess, and Defi. He wants decentralization to benefit everyone on the planet.
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