Cryptopolitan
2021-08-20 10:14:11

Bitcoin HODLed or Lost has reached 5-month high

TL;DR Breakdown: The number of Bitcoin HODLed or Lost has reached a new 5-month high.The increase in BTC HODLed is also causing a decrease in the supply held by cryptocurrency exchanges. On-chain cryptocurrency analytics platform Glassnode has confirmed an increase in the number of HODLers in the Bitcoin market. A significant number of Bitcoin hasn’t been moved over the past years, which is plausibly due to more strong-hand investors or lost coins.  Number of Bitcoin HODLed or Lost spikes As Glassnode shared on Friday, the total amount of Bitcoin HODLed or Lost has reached a record high of 7,128,209.404 BTC, which is the highest level last seen since March. The numbers began dipping towards April, which somewhat explained why Bitcoin faced a major correction after reaching an all-time high above $64,000 on April 16. #Bitcoin $BTC Amount of HODLed or Lost Coins just reached a 5-month high of 7,128,209.404 BTCPrevious 5-month high of 7,128,169.699 BTC was observed on 17 July 2021View metric:https://t.co/dJK8rxBVD3 pic.twitter.com/RuDjnMudrE— glassnode alerts (@glassnodealerts) August 20, 2021 The increase in Bitcoin HODLed or Lost shows investors are interested in holding Bitcoin again, suggesting where the price will go next. Zooming out from this data, a separate report from Glassnode also confirmed a spike in the number of Bitcoin that hasn’t been moved for at least a decade.  The chart below sho...

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