39 days ago • Posted by William Ramstein

More coins are accumulated into long term holding positions than ever before

The trend of coins being withdrawn and locked away into long term holding patterns is a direct response to the worlds central bank response to 2020. This data provides strong evidence that Bitcoin is now viewed as an important macro asset. Whilst on-chain metrics are resetting, and some may argue there is room to go in this correction, there still appears to be significant demand from long-term investors. This is quite unique in trend and scale compared to Bitcoin's history, especially at this stage in a bull market. - Glassnode