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Glassnode’s latest data shows that long-term Bitcoin holders, who have kept their Bitcoin for over 155 days, now own over 14 million BTC. This amount accounts for 71% of all circulating Bitcoin, showing that these investors believe strongly in Bitcoin’s value, despite recent price changes.
At the start of 2024, these long-term holders sold about 1 million BTC, taking profits from buying Bitcoin at around $25,000 in 2023. This selling highlights their confidence to cash in during price rises, but they still hold a significant amount of Bitcoin.
Short-term holders, who hold Bitcoin for less than 155 days, decreased their Bitcoin from 3.3 million to 2.7 million BTC due to market drops. An increase in Bitcoin buying by this group could signal a growing confidence in Bitcoin’s future, hinting at potential stability and growth for Bitcoin prices.
