Warm BTC. When they invest in Bitcoinmost investors have a long term objective. Indeed, the latter wish to benefit from the hitherto cyclical developments of the Bitcoin price. For this, they are ready to keep their precious BTC stored on their wallets for years.
70% of BTC is inactive
In the world of cryptocurrencies, we are familiar with the expression HODL, “Hold On for Dear Life”. However, it appears that most investors apply this to the letter on Bitcoin.
Indeed, the data compiled by Glassnode showed that 70% of BTC had not moved since a year. This is a record, having just surpassed the previous peak in July at 69%.
When we look at the curve since the launch of Bitcoin, we can see that the Holding is an increasingly present trend. Indeed, even during previous bear markets, the number of inactive BTC had never reached these levels.
Nevertheless, this demonstrates strong confidence on the part of investors in Bitcoin. Indeed, a large portion of Bitcoin holders seem to have confidence in the long-term value of the cryptocurrency.
Especially since the recent increases in the price of BTC have given new hope for the potential arrival of a new bull run. So, few investors are inclined to sell before then.