A new report from Glassnode, an on-chain analytical firm, has buttressed recent data indicating Bitcoin holders are adding to their holdings. These long-term Bitcoin investors, often known as “HODLers,” don’t appear to be phased by the recent volatility in Bitcoin’s price.
According to on-chain data, long-term holders have been rapidly amassing Bitcoin, adding more than 50,000 BTC each month to their holdings.
Monthly Accumulation Of BTC Worth $1.35 Billion
Bitcoin is currently showing signs of slowing down, as its price just dipped below $27,000. It would appear that short-term speculators are mostly to blame for the persistent selling pressure, as data shows whale investors are seeing this opportunity to buy more BTC at a discount rather than secure profits.
According to Glassnode’s HODLer Net Position Change metric, long-term holders are purchasing an average of 50,000 BTC worth $1.35 billion at the current price of Bitcoin every month.
Another metric, the Long-Term Ho
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