In a surprising turn of events, Bitcoin is experiencing a notable surge in accumulation, marking a trend not seen in nearly three years. The steadfast nature of the majority of Bitcoin holders is evident, as revealed by the latest data on the percentage of held supply across various age bands.
According to recent statistics, the resilience of Bitcoin holders is showcased in the absolute magnitude of their commitment. The vast majority of the Bitcoin holder base remains unwavering, with the percentage of held supply across different age bands positioning just below all-time highs (ATHs).
For holdings that are 1 year or more old, the percentage stands impressively at 69.6%. Those holding Bitcoin for 2 years or more represent 56.4% of the total. Among holders with a history of 3 years or more, the percentage is 43.5%. The data shows that for Bitcoin held for 5 years or more, the percentage is at 31.5%.
This data paints a picture of a Bitcoin community that, even in the face of market fluctuations, has displayed a remarkable level of loyalty and confidence in the leading cryptocurrency.
Accumulation Trend Score Reaches Four-Month High
Further adding to the intrigue is the Accumulation Trend Score, which has maintained a consistent and elevated level near 1 for the past four months. This crucial metric suggests that larger entities within the market are actively accumulating Bitcoin, indicating a significant uptick in confidence among institutional players.
The Accumulation Trend Score serves as a key indicator of the market sentiment, and its prolonged high level is indicative of a sustained period of accumulation. This trend is crucial as it reveals that influential entities, possibly institutional investors, are not only holding but actively increasing their Bitcoin positions.
Amid ongoing market volatility, the resilience and accumulation trends within the Bitcoin community offer a counter-narrative. Despite external pressures and uncertainties, the data signals a strong underlying confidence in the market.
As Bitcoin holders, both individual and institutional, continue to accumulate, the cryptocurrency ecosystem appears to be entering a phase of increased stability and confidence. This accumulation streak, coupled with the Accumulation Trend Score, underscores a positive outlook for Bitcoin’s future, challenging the prevailing narrative of market uncertainty.
Bitcoin’s impressive accumulation streak and the unwavering commitment of its holder base paint a resilient picture for the cryptocurrency, suggesting that amidst market fluctuations, a foundation of confidence is being solidified.
Source: https://blockchainreporter.net/bitcoin-accumulation-reaches-impressive-heights-defying-market-volatility/