Rally

Bitcoin

<ul> 
 <li>Addresses that have held Bitcoins for 155 days or more are considered Long-term holders.&nbsp;</li> 
 <li>Long-term Bitcoin holders dominated the network in February, controlling as much as 78%.</li> 
</ul> 
<a href="https://glassnode.com/" target="_blank" rel="noopener noreferrer nofollow">Glassnode</a>, a blockchain analytics company, reports that the number of <a href="https://thenewscrypto.com/bitcoin-news-can-btc-reach-100k-before-halving/" target="_blank" rel="noopener noreferrer nofollow">Bitcoins</a> held by long-term holders has hit a new high of 14.599 million. A total of 43,949 Bitcoin, or almost $1.274 billion has been added to these wallets during the last week. 
Addresses that have held Bitcoins for 155 days or more are considered Long-term holders. Glassnode claims that historical data indicates this sort of address is highly unlikely to sell, and as a result, is often termed to be HODLers. 
<h3 class="wp-block-heading" id="h-banking-on-btc-rally">Banking on BTC Rally</h3> 
Seventy-five percent of Bitcoins in circulation are owned by long-term holders, indicating that investors are choosing to save their funds for the foreseeable future. 
Long-term Bitcoin holders dominated the network in February, controlling as much as 78% of the total supply. Increasing trust in the top cryptocurrency’s potential as a store of wealth may still be behind this persistent trend of long-term holding. 
The historical volatility for Bitcoin has also dropped to record lows, as per an on-chain analyst at Glassnode. Historical volatility is the degree to which an asset’s price fluctuates over a certain time frame. The difference between two successive closing prices is often used as the basis for this calculation. 
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 <img decoding="async" width="661" height="356" src="https://thenewscrypto.com/wp-content/uploads/2023/08/BTC_1D_graph_coinmarketcap-1.png" alt="" class="wp-image-80295" srcset="https://thenewscrypto.com/wp-content/uploads/2023/08/BTC_1D_graph_coinmarketcap-1.png 661w, https://thenewscrypto.com/wp-content/uploads/2023/08/BTC_1D_graph_coinmarketcap-1-300x162.png 300w, https://thenewscrypto.com/wp-content/uploads/2023/08/BTC_1D_graph_coinmarketcap-1-150x81.png 150w" sizes="(max-width: 661px) 100vw, 661px"> 
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 Source: <a href="http://CoinMarketCap.com" target="_blank" rel="noopener noreferrer nofollow">CoinMarketCap</a> 
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After reaching highs of over $31,500 in mid-July amidst a fresh wave of <a href="https://thenewscrypto.com/crypto-news-sec-accepts-blackrocks-bitcoin-etf-application/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin ETF</a> applications, the value of the biggest cryptocurrency in the world has fallen 4.3% in the previous month. According to CMC, the price of Bitcoin is now trading at $29,052 and is up 0.06 % in the last 24 hours. 
Highlighted Crypto News Today: 
<a href="https://thenewscrypto.com/bitcoin-news-can-btc-reach-100k-before-halving/" target="_blank" rel="noopener noreferrer nofollow">Can BTC Reach $100K Before Halving? Blockstream CEO Thinks So!</a>

Long-Term Bitcoin Holders Reach New High Amidst Low Volatility

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TheNewsCrypto

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