Bitcoin’s long-term holders have returned to accumulation
Long-term holding wallets have shifted to net accumulation from net distribution, according to Glassnode.
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Summary
- Long-term holders, defined as wallets that have held coins for at least 155 days, have shifted from net distribution to net accumulation, signaling renewed demand for the cryptocurrency, according to Glassnode data.
- Smaller and mid-sized wallets are leading broad-based dip-buying while the largest whale wallets remain mostly neutral, prompting analysts to say it is still too early to call this a full accumulation regime.
