Bitcoin has shed 5.7% in the past 24 hours and is now down 11.5% from its all-time high as Glassnode data shows retail BTC holders have significantly increased their stash.
Glassnode also showed that more hodlers are willing to hold onto their BTC, with the amount of the cryptocurrency on exchanges at its lowest level since August 2018.
Bitcoin hit it’s all-time high ten days ago at $61,683 and looked poised to continue with its bull run. However, since then, it has shed 11.5% and is now trading at $54,630. According to on-chain data analytics platform Glassnode, the top cryptocurrency has now entered the later stages of a bull market.
#Bitcoin on-chain indicators suggest conditions are similar to the second half or later stages of a bull market
This week we analyse:– Accumulation dynamics– HODLer Strength– BTC Wealth Transfer cycles
Read more of our analysis in The Week On-chain👇https://t.co/JBMUHRb2Bo
— glassnode (@glassnode) March 22, 2021
In its ‘The Week On-Cha
