The share of potential profit-generating bitcoins reached 83.7% of the total supply. This is the highest figure since November 2021, according to a report by Bitfinex analysts.
Bitfinex Alpha is back with news that 70% of all Bitcoin supply has been untouched for a year, as the HODLers dominate the market ✅
Over 80% of BTC is now in the green, but the hodlers are untempted to sell 📈https://t.co/kn8aOcfjfQ pic.twitter.com/AXsh6CDNv4
— Bitfinex (@bitfinex) November 27, 2023
Experts noted that the owners of these ~16.3 million BTC “are reluctant to sell, and buyers are not actively seeking supply” of the coins.
According to analysts, the ratio between short-term and long-term holders of digital gold is shifting in favor of the latter. As a result, approximately 70% of Bitcoin, or an “unprecedented” 16.3 million BTC, did not move during the year. At the same time, 60% of coins have remained motionless for two years.
According to Bitfinex specialists, the indicators mean that the market is “in a relatively strong position” as coin owners see a positive return on their investments and are in no rush to liquidate assets.
Experts also pointed out that Bitcoin did not move out of its current price range last week, despite the negative news surrounding Binance.
Source: Cryptocurrency
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