CryptoQuant analyst pseudonym Onchained delivered the latest report regarding strong signals from long-term Bitcoin (BTC) investors.
As reported by Ambcrypto, Onchained found that the total supply of Bitcoin (BTC) held by long-term investors had reached an all-time high of 80.34 percent.
Long-term BTC holders are investors who have held their coins for a longer period of time, usually above 12 months.
“The growth in the supply of BTC held by long-term holders seen in the recent past indicates growing confidence among experienced investors, who are increasingly committed to their Bitcoin holdings,” explained the analyst.
Although Bitcoin has faced recent challenges, with Bitcoin trading at US$26,789 at the time of writing and struggling to clear the US$28,500 resistance level, long-term holders remain steadfast in their resolve.
The group's resilience to price fluctuations, even in the face of price consolidation, shows their confidence in the digital currency's long-term potential.
In contrast, short-term holders, who have held their Bitcoin for less than six months, have adopted a markedly different strategy.
The Onchained report revealed that short-term holders now account for only 19.34 percent of the circulating supply.
This decline reflects a decline in short-term speculation and a marked shift towards long-term investment strategies.
However, both long-term and short-term Bitcoin holders are currently experiencing losses when assessing the Spent Output Profit Ratio (SOPR), a metric used to measure the profitability of Bitcoin transactions.
Data obtained from CryptoQuant places the SOPR values for long-term and short-term holders of BTC at 0.93 and 0.99, respectively, at the time of writing this article.
Values above 1 typically indicate that investors are selling their coins at a profit, while values below 1 indicate that investors are distributing their holdings at a loss.
The latest report from CryptoQuant analysts provides insight into the changing dynamics in the Bitcoin market.
Long-term BTC investors for more than a year, now control about 80.34 percent of the total Bitcoin supply. This record shows increasing confidence among experienced investors, confirming their strong commitment to Bitcoin.
