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Long-Term Bitcoin Holders Start Accumulating BTC First Time Since It Was $12,000: Glassnode

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Thu, 04/15/2021 - 16:01
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Yuri Molchan
Glassnode agency chart shows that long-term holding whales and miners have begun to accumulate Bitcoin instead of selling it first time since mid-fall last year
Long-Term Bitcoin Holders Start Accumulating BTC First Time Since It Was $12,000: Glassnode
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A Twitter user going under the name "Documenting Bitcoin" has shared a Glassnode chart that shows that holder addresses on which Bitcoin is stored long-term have begun accumulating more Bitcoin for the first time since October-November 2020, when BTC was worth around $11,500 and close to $12,000.

As per the chart, from November to now, miners and other long-term holders have been dumping Bitcoin as it grew from $13,000 and first recovered to the $20,000 peak of 2017, and again when it went higher toward $40,000 and $50,000.

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As reported by U.Today earlier, Bitcoin miners started to accumulate BTC instead of selling some time ago. This chart shows that they continue to do so: the long-term holder net position change indicator keeps going green.

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Image via Twitter

On Wednesday, April 14, spurred by the future Coinbase direct listing on the Nasdaq, Bitcoin set a new all-time high record in the $64,500 area.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.