Glassnode noted an increase in the supply of the first cryptocurrency. The volume of bitcoins held by new investors (coins less than three months old) reached almost 50% of the network’s liquidity. At the peaks of previous cycles in 2018 and 2021, this figure reached 85% and 74%, respectively.
“Savvy investors have allocated coins to the uptrend and new demand is absorbing selling pressure. Investors are selling bitcoins, but not as intensely,” the report says.
According to experts, almost all hodlers remain profitable. This is an indicator that the cryptocurrency bull cycle is far from over. A local peak in the value of Bitcoin will most likely occur in the second quarter.
Earlier, analysts from CryptoQuant presented a report on the ratio of bitcoin reserves among companies from the United States and other countries. According to him, the inventories of American firms are 65% higher than those of foreign firms.
Source: Bits
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