In its research, Glassnode divided Bitcoin owners between long-term holders who own coins more than 155 days old, and short-term holders owning coins younger than that. The firm discovered that “once a coin passes our 155 day threshold to become a LTH held coin, it is increasingly unlikely to be spent on a statistical basis, often only coming back to life during volatility and at higher prices in bullish markets.”
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Markets Report: Bitcoin puts in $54K low but strong holders keep demand flowing
The week’s downturn stays in force as analysts disagree over its root cause but buyers are far from in short supply
Bitcoin stayed lower on March 16 as the week’s comedown from all-time highs accelerated overnight. The move compounds an already bearish turn in Bitcoin markets which followed new all-time highs of $61,700 during the weekend.
