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Bitcoin Long-Term Holders Stock up on Bitcoin as This Index Goes Green

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Wed, 11/08/2021 - 13:15
Bitcoin Long-Term Holders Stock up on Bitcoin as This Index Goes Green
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Charts provided by Glassnode data analytics vendor show that the amount of Bitcoin owned by long-term holders has recovered to a level last seen in 2020, and these users are actively buying the dip.

Long-term Bitcoin investors recover BTC they held in 2020

Prominent Bitcoin dedicated Twitter account @BTC_Archive has posted two charts by Glassnode, indicating that long-term Bitcoin investors continue to buy Bitcoin on the dip and have already recovered what they sold since it was worth around $12,500 per coin.

The chart of the Total Bitcoin Supply Held by Long-Term Holders shows that the BTC owned by these investors is now at the same high level as it was last year—when the leading digital asset was worth $13,000.

The curve went down by Jan. 21, when BTC began soaring above $20,000, and has been rising since May.

Related

Serious BTC investors keep grabbing the dip

Another chart shared by this Twitter user with his 414.5 million followers shows that investors with diamond hands continue to stock up on Bitcoin, adding more and more to their holdings kept in cold storage wallets.

As of this writing, the flagship crypto is going at $46,059, according to data from CoinMarketCap, after breaching the $40,000 level on Aug. 5.

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