Bitcoin Accumulation and Long-Term Holders
Glassnode data suggests that Bitcoin (BTC) is in an accumulation phase, with its available supply hitting a new all-time low. This indicates that Bitcoin’s illiquid supply is being bought up by long-term investors, with “92% of the newly mined supply” being purchased according to the report.
Investors are keeping up to date with crypto, using sentiment analysis and other web 3.0 tools to gain insight into the market. This is allowing them to better understand the data ownership and reports from web 3.0, and make informed decisions about their investments.
The bullish conviction of long-term holders and the accumulation of Bitcoin among a majority of investor cohorts is a positive sign for the future of the crypto market.
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