Bitcoin’s Old Guard Still Growing Despite Whale Selling
Glassnode data shows long-term holders growing their share of supply, challenging the narrative of widespread OG distribution.
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Glassnode data shows long-term holders growing their share of supply, challenging the narrative of widespread OG distribution.
On-chain data shows the realized price has climbed above the 200-week moving average, a historical signal of sustained bull markets.
The number of bitcoin held in wallets tied to miners has dropped to the lowest since mid-2021.
The funding rate spread has collapsed, indicating increased appetite by traders to speculate further out on the risk curve, one analyst said.
Net outflows from exchanges are often taken to represent investors’ intention to hold coins for long-term.
It appears bitcoin holders are not planning on offloading inventory at these price levels or any time soon, one observer said.