Number Of Short-Term Bitcoin Holders Hits All-Time Low, How This Affects The Price

Bitcoin has been doing good lately in the market. The digital asset broke the $50K price point earlier this week, before seeing a slight retracement down to $49K. This has been driven by a number of factors in the market. Growing interest is at the top of the list. As the price rallies, a number of interesting things have been happening in the Bitcoin space, ranging from holding patterns to the duration of the hold. Recent data shows that the number of short-term bitcoin holders has declined to new lows. Most investors are now just holding their coins and not moving them out of their wallets. This is happening regardless of where the price of BTC is at any moment. A record of approximately 84% of the total bitcoin supply has not been moved in three months. This timeline coincides with the end of the last bull rally that saw the asset hit a new all-time to the present rally. Related Reading | South African Man Loses $900,000 Worth Of Bitcoin After Accidentally Deleting Keys Investors Moving Bitcoin Out Of Exchanges A bull rally that would usually lead to an accelerated rate of sell-off is now having the opposite effect. Instead of investors clamoring to sell off their coins and take profits as the price goes up, data shows that investors are hoarding their coins. This is apparent in the inflows and outflows from cryptocurrency exchanges. Related Reading | Crypto Market Goes Into “Extreme Greed,” What This Means For Bi...