Bitcoin's Long-Term Holders Show Reduced Activity as BTC Hits 10-Month Low in Spent OutputsCryptocurrency 0 replies 0 likes 0 votes 146 views
Amy Swift 4 months
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?