According to CoinDesk: Long-term holders accumulating BTC, remaining optimistic amid market volatility
Long-term holders of Bitcoin continue accumulating the cryptocurrency despite the current market lull. According to analysts at crypto exchange Bitfinex, 40% of Bitcoin has remained unmoved for over three years, reaching an all-time high for that metric. This accumulation trend has been consistent since March 2023 and indicates optimism and resilience against market volatility.
However, the one-year inactive supply metric suggests a more bearish sentiment among "newer" long-term holders who acquired their positions during the bear market. This group has shown more unease, exiting their positions during a price drop in July. Crypto markets are currently experiencing low volatility, with futures and options traders positioning for a bearish market and Bitcoin prices potentially reaching as low as $22,000.
