Bitcoin’s market share soared to 56%! Long-term currency holders are steadfast and their market dominance reaches new highs!
Latest data exposure: According to a Glassnode report, Bitcoin (BTC) market dominance has risen sharply to 56% in this bull market, a significant increase from 38.7% in November 2022. This data shows that Bitcoin has not only hit a new high in terms of market value, but also demonstrated its strong market resilience in the persistence of long-term currency holders.
Market dominance surged: Bitcoin’s market share reached 56%, demonstrating its core position in the entire cryptocurrency market. This change reflects investors’ strong confidence in Bitcoin and its irreplaceability in the crypto market.
The steadfast attitude of long-term currency holders: Despite the recent violent market price fluctuations, long-term currency holders are still steadfast in hoarding Bitcoin. Data shows that the behavior of hoarding currency has clearly surpassed the behavior of selling currency. Especially after hitting a record high in March 2024, the confidence of currency holders has become stronger.
The continued hoarding behavior of long-term currency holders shows that they have positive expectations for the future trend of Bitcoin. This behavior may provide support for market stability and long-term growth, and also reflects investors’ recognition of Bitcoin’s long-term value and potential.
Bitcoin’s market share has hit a record high, and the firm confidence of long-term currency holders has injected strong impetus into the market. Follow Boshi to gain an in-depth understanding of market dynamics, seize investment opportunities, and work together to achieve steady returns and achieve greater investment goals!
