Long-term Bitcoin holders have demonstrated significant confidence in the cryptocurrency market, acquiring an additional $23 billion worth of Bitcoin in the last 30 days. This surge involves an increase of 404,000 BTC, indicating a strong belief in the currency’s future despite recent concerns about market stability due to issues with major players like Mt Gox and Celsius.

Data from CryptoQuant highlighted in a recent tweet from Bitcoin Archive illustrates a stark rise in permanent holder addresses, juxtaposed against the price volatility over the years. The market appears resilient as these veteran investors continue to accumulate more Bitcoin, suggesting a possible stabilization or even an upward trend in the near future as these large volume purchases could drive up market demand.