• Long-term holders have gradually accumulated 1.01 million BTC over the past 602 days, bringing their total supply to 14.47 million Bitcoin.
• Shrimp holders, meaning addresses with less than 1 BTC, have been “aggressively” accumulating Bitcoin at a rate of 33,400 BTC a month.
• Bitcoin is currently trading at $31,017 and has seen gains of 87% since the start of 2023.
Over $450 Billion in Bitcoin Accumulated by Long-Term Holders
Crypto analytics firm Glassnode reports that long-term holders have amassed 1.01 million Bitcoin (BTC) over the past 602 days, bringing that cohort’s total supply to 14.47 million BTC – just 20,000 short of the all-time high.
Shrimps Aggressively Accumulating
Glassnode also notes that “shrimp” holders – addresses with less than 1 BTC – are “aggressively” accumulating Bitcoin at a rate of 33,400 BTC per month on average. The shrimp cohort now holds 1.33 million BTC in total.
Current Price Action
At time of writing, Bitcoin is trading at $31,017 and has seen gains of 87% since the start of 2023; however it remains around 55% down from its all-time high of more than $69,000 which it hit in November 2021. Crypto analytics firm IntoTheBlock reports that 75% of BTC holders are making money at Bitcoin’s current price and 69% have held onto their coins for more than one year.
Long Term Outlook
It appears that long term investors remain confident about the future potential for cryptocurrency markets as they continue to accumulate holdings despite recent market volatility and declines in price action across many digital assets over 2020/2021 period .
Conclusion
Overall it appears that long term investors are optimistic about cryptocurrencies and remain committed to increasing their holdings despite market fluctuations or corrections from time to time . As such , we can expect these markets to continue growing strong into the future .