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Three-quarters of circulating BTC last changed hands for less than $10,800

After a recent spike in profit-taking, long-term Bitcoin investors are back to offloading coins at the same rate they were in 2020. Research from on-chain analytics provider Glassnode has found that roughly three-quarters of circulating Bitcoin last moved on the blockchain when prices were below $10,800, suggesting most market participants are long-term holders. Glassnode’s March 29 ‘Week on Chain’ report found that 25.43% of circulating BTC last traded between the prices of $10,800 and $58,800. With Bitcoin trading for $10,800 just six months ago, the data suggests one-in-four circulating BTC last changed hands during either Q2 2020 or Q1 2021.…

Continue Reading Three-quarters of circulating BTC last changed hands for less than $10,800

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