Bitcoin supply held for over six months has reached a record high of 76.5%, while that held for over a decade stands around 12.6% at an estimated 2.39 million BTC.
Data from Glassnode points to a change in approach by bitcoin investors who bought the digital asset in the past six months despite the recent liquidations.
The new way of investing emerged since Bitcoin peaked at almost $70,000. The data also shows that most buyers entered the market when the token tested the ATH.
The CEO of Three Arrows Capital, Su Zhu, says that the market is experiencing a deviation in the behavior of the BTC holders compared to that during the correction cycle four years ago.
The bullish momentum at the close of 2020 reportedly caused a change in risk appetite when most mid-term investors sold their tokens at $10k.
BTC is currently trading at $37,660 after dropping in what is attributed to bearish sentiment in the financial and crypto sectors.
According to Glassnode, the supply of bitcoins that have been held for more than half a year has reached a record high, about 76.5%; the current supply of bitcoins that have been held for more than 10 years is about 12.6%, about 2.39 million BTC. pic.twitter.com/04DohJfPSC— Wu Blockchain (@WuBlockchain) February 22, 2022