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Bitcoin Investors Favor Accumulation Over Distribution Amid Price Surge: Glassnode
In recent months, the Bitcoin market has experienced a significant surge in price. As a result, investors are adapting their strategies accordingly. According to a latest report from Glassnode, it appears that these investors are favoring accumulation over distribution amid this price surge.
The report suggests that investors have been increasingly preferring to accumulate their Bitcoin holdings rather than distribute them. This trend has become even more pronounced since the asset’s all-time high in May. The data also indicates that long-term holder supply is growing rapidly, with LTHs absorbing newly issued supply at a pace of 19,300 BTC per month, while miners are producing approximately 13,400 BTC monthly.
The accumulation trend observed by Glassnode suggests that investors have become price-insensitive and unwilling to distribute their assets at current market prices. Instead, they appear to be waiting for more substantial market action before making any significant decisions.
Meanwhile, the report highlights some concerning trends in the market. The supply side of the market is tightening, which makes it susceptible to demand shocks. As a result, moderate fluctuations could potentially trigger significant price volatility.
Source: cryptopotato.com
