Bitcoin’s Sleeping Giant: 75% of Coins Unmoved for Six Months
- 75% of the existing Bitcoins have remained unmoved for over six months.
- Investors’ behavior reflects bullish sentiment for BTC.
- Bitcoin’s current price reflects a 38% profit for the year.
Bitcoin hodlers are playing the long game, with 75% of the supply remaining unmoved for over six months, signaling bullish sentiment among investors. Interestingly, this also coincides with a period in the first quarter of 2024 when BTC traded around $60,000.
NEW: 75% of #Bitcoin have not moved in the past 6+ months.
— Bitcoin Magazine (@BitcoinMagazine) August 19, 2024
HODLpic.twitter.com/SchISSAvOo
Bitcoin experienced a surge after that, continuing a rally that began in the third quarter of 2023. This additional surge pushed Bitcoin’s price to a new all-time high of $73,794 before entering a consolidation phase.
To put it in perspective, Bitcoin has traded between $50,000 and $70,000 for the past six months. However, the flagship crypto has spent most of this time trading below the $60,000 level. Hence, analysts think the bulk of the BTC that remained unmoved during this period could be from investors anticipating the cryptocurrency to move higher.
It is wor…
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Bitcoin’s Sleeping Giant: 75% of Coins Unmoved for Six Months
- 75% of the existing Bitcoins have remained unmoved for over six months.
- Investors’ behavior reflects bullish sentiment for BTC.
- Bitcoin’s current price reflects a 38% profit for the year.
Bitcoin hodlers are playing the long game, with 75% of the supply remaining unmoved for over six months, signaling bullish sentiment among investors. Interestingly, this also coincides with a period in the first quarter of 2024 when BTC traded around $60,000.
NEW: 75% of #Bitcoin have not moved in the past 6+ months.
— Bitcoin Magazine (@BitcoinMagazine) August 19, 2024
HODL
Bitcoin experienced a surge after that, continuing a rally that began in the third quarter of 2023. This additional surge pushed Bitcoin’s price to a new all-time high of $73,794 before entering a consolidation phase.
To put it in perspective, Bitcoin has traded between $50,000 and $70,000 for the past six months. However, the flagship crypto has spent most of this time trading below the $60,000 level. Hence, analysts think the bulk of the BTC that remained unmoved during this period could be from investors anticipating the cryptocurrency to move higher.
It is wor…
The post Bitcoin’s Sleeping Giant: 75% of Coins Unmoved for Six Months appeared first on Coin Edition.
Read More