Long-Term Bitcoin Holder Metric Records An All-Time High

Hester Peirce Says SEC Has No Reason To Deny Bitcoin ETF

Glassnode, a blockchain analytics firm, recently shared data highlighting that almost 14.599 million BTC tokens are now held by long-term Bitcoin holders.

In the last seven days, there has been a rise in the total balance found in these wallets by a whopping $1.274 billion at the current prices, or by 43,949 BTC tokens.


Wallet addresses that have held Bitcoin for a minimum of 155 days are considered long-term holders of the token.

Glassnode has revealed that as per previous research and statistics, these wallets are unlikely to spend their holdings, which means they are actually HODlers.

The amount of the pioneer crypto token held by these long-term holders is about 75% of the total market supply of Bitcoin.

This suggests that most investors prefer to hold onto their tokens for an extended time period. Back in February, 78% of the total supply of Bitcoin in the market was controlled by these long-term wallets.

Nonetheless, the fact that long-term holding has remained a consistent pattern shows that more people believe that the leading crypto has the potential to function as a store of value.

Realized volatility

Meanwhile, a pseudonymous on-chain analyst called Checkmate pointed out that there has also been a historic decline in BTC’s realized volatility.

The Glassnode analyst noted that between the time frame of 1 month and 1 year, it was the quietest that Bitcoin has been since March 2020.

Checkmate stated that this low volatility has historically been seen in hangover periods after a bear market, which is also known as the re-accumulation phase.

Also known as historical volatility, realized volatility describes the volatility seen in the price of an asset over a certain time period.

The changes between closing prices are used for calculating this particular metric.

Current prices

According to data from CoinGecko, Bitcoin has recorded a 0.1% decline in its price in the last 24 hours, due to which it was changing hands at a value of $29,010 at the time of writing.

In the last month, the largest crypto in the world has recorded a decline of 4.3% in its price. This was after it had surpassed the $31,500 level halfway in July.

The boost was driven by new applications filed for a Bitcoin ETF by a number of companies in the market.

Nonetheless, there has been a 75% gain in the price of Bitcoin since the beginning of this year. This means that the top crypto has managed to outperform major stock indexes significantly.

These include Nasdaq Composite, which has recorded gains of 33% in the same time period. Dow Jones has risen by 5.82% and the S&P 500 has managed to gain by 17%.

Bitcoin has been able to record impressive growth, particularly when compared to the previous year when the crypto market had taken some big hits due to some big collapses like the FTX crypto exchange.