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

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Thu, 15/04/2021 - 16:01
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.

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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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