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At Prices Over $60,000, 1.87 Million #Bitcoin Were Purchased
Glassnode's on-chain analytics show that 9.5% of Bitcoin traded over $60,000.
1.87 Million Bitcoin Was Bought Above $60,000.
Glassnode's newest weekly analysis shows Bitcoin's supply distribution by investor purchase price.
The Bitcoin market is divided by coin holding period into short-term and long-term holders.
Investors who acquired their coins under 155 days are short-term holders (STHs), while those above are long-term holdings (LTHs).
STHs bought most supply over $60,000, as seen in the chart. However, some LTHs—buyers from the 2021 bull run—are included.
Some investors who bought the peak back then had the confidence to hold their ground all these time, and now, patience has paid off, as they will finally be in the green (or around their break-even point).
Large amounts of supply have been acquired at these high prices due to the asset's recent rapid climb, which has generated a lot of attention.
At current high prices, Bitcoin spot exchange-traded funds (ETFs) have also seen large inflows.
Speaking about STHs and LTHs, the latter are regarded the most tenacious since these HODLers seldom sell regardless market conditions.
Since their supply has been falling, these diamond hands have started breaking their silence.
Since December, Bitcoin LTHs have lost 900,000 BTC, according to the graphic. It seems that HODLers have been reaping their long-term earnings.
This includes 286,000 BTC from Grayscale Bitcoin Trust (GBTC) withdrawals, according to Glassnode.
