The itcoin">Bitcoin price is steadily marching back towards the critical $30,000 level, defying bearish predictions. This rise comes as itcoin">Bitcoin’s long-term holder metric hits a new all-time high.
According to data from Glassnode, 76.09% of itcoin">Bitcoin’s total supply is now held by long-term investors. This underscores confidence in itcoin">Bitcoin as a store of value despite volatility.
Long-term holders use a buy-and-hold strategy and wait patiently for bull runs to realize massive gains. Short-term holders trade more speculatively during volatile markets.
This long-term holder metric reaching a record high signals growing itcoin">Bitcoin adoption and resilience. Investors are hunkering down for the long haul and ignoring short-term price swings.
Several factors may be driving itcoin">Bitcoin’s recent positive momentum. These include the possibility of SEC approval for spot itcoin">Bitcoin ETFs, the launch of hard fork itcoin">Bitcoin Spark, and surging adoption in regions like Brazil.
Even amid regulatory scrutiny and wild price fluctuations, itcoin">Bitcoin has shown impressive growth. Passing $27,000 comes as a bullish sign for investors eager to capitalize on the next major market run.
If the long-term holder metric remains strong, itcoin">Bitcoin’s price could continue climbing back toward its all-time highs. Patience and confidence seem to be the name of the game for most BTC investors.
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