Bitcoin's Long-Term Holders Show Reduced Activity as BTC Hits 10-Month Low in Spent Outputs

Cryptocurrency 0 replies 0 votes 2155 views

According to Glassnode

  • Bitcoin has hit a 10-month low in the number of spent outputs with a 1 to 2-year lifespan.
  • This metric indicates that long-term holders of Bitcoin are becoming less active in the market.
  • It suggests a lack of confidence in Bitcoin's long-term growth prospects among some investors.
  • Some investors may be choosing to hold their BTC for longer periods rather than engaging in short-term trading.
  • Bitcoin's price has decreased by over 9% in the last seven days.
  • Trading volume for BTC has also decreased by 16% in the past day.
  • The percentage of unmoved Bitcoins has reached an all-time high of 53% over the previous two years, indicating less trading activity.

what do you think will be the consequences of this now? How will this affect the market?

Forgot Password?
Don't have an account? Sign up