Long-Term Bitcoin Holders Are Buying Again After Sell-Off
Wednesday, 22 May 2024, 08:12
Bitcoin Holders Increase Accumulation Amid Market Correction
The basic laws of supply and demand dictate Bitcoin's price movements. When supply exceeds demand, prices fall, and vice versa. Recent data indicates a price drop below $57,000 as long-term holders demonstrate confidence by accumulating BTC.
Insights from On-Chain Metrics
- Realized Cap: Value of all BTC based on last movement price
- Realized Profits: Actual gains for BTC holders
Long-term holders adding over 70,000 BTC since May reveal resilience amid short-term concerns.
Shifts in Supply-Demand Trends
- Long-Term Holder Net Position Change: Reflecting accumulation behavior
- Balance on Exchanges: Movement of BTC to private wallets
Despise corrections, rising demand signals potential upward trends as holders exhibit confidence in Bitcoin's long-term value.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.