Wait and see approach: 3/4 of Bitcoin supply now illiquid
Bitcoin markets have been consolidating since the beginning of the year, but on-chain metrics are painting a more positive picture as more of the asset is becoming illiquid. On-chain analytics provider Glassnode has been delving into Bitcoin supply metrics to get a better view of the longer-term macro trends in its weekly report on Jan. […]
Three-quarters of circulating BTC last changed hands for less than $10,800
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 […]
Glassnode: $47k showed strongest on-chain support since BTC broke $11k
On-chain crypto analytics firm Glassnode has reported significant on-chain support was found for BTC at the roughly $47,000 level, describing the event as the largest on-chain support identified since Bitcoin broke above $11,000 in late 2020. According to a March 8 report from Glassnode, approximately 1.2 million Bitcoin were moved on-chain as BTC’s price traded […]
Top 100 Bitcoin addresses accumulated $11B more BTC in the past 30 days
The top 100 richest Bitcoin addresses are increasingly bullish, accumulating 16% more Bitcoin over the last 30 days. In total these addresses added 334,000 more Bitcoin to their bags, or around $11 billion worth. The majority barely reacted to Bitcoin’s recent price drop from $41,000 to below $33,000. Only seven addresses conducted a transfer out […]