Cryptocurrency News
On-chain data shows Bitcoin long-term holders continuing to ‘soak up supply’ around $30K
2022.05.31 02:06
On-chain data shows Bitcoin long-term holders continuing to ‘soak up supply’ around $30K
Bear markets are typically marked by a capitulation event where discouraged investors finally abandon their positions and asset prices either consolidate as inflows to the sector taper off or a bottoming process begins.
According to a recent report from Glassnode, Bitcoin hodlers are now “the only ones left” and they appear to be “doubling down as prices correct below $30K.”
