Glassnode Data Reveals Bitcoin Holders Tightening Their Grip
Glassnode’s latest report reveals that despite recent market volatility, Bitcoin holders are increasingly adopting a “HODLing” strategy.
The report shows a shift from sell-side pressure to accumulation, with the Accumulation Trend Score (ATS) reaching its maximum value of 1.0. Long-term holders, who had previously sold off assets, have now moved approximately 374,000 BTC back into long-term holdings over the past three months. This renewed commitment among large wallet sizes and long-term holders suggests a stable market foundation and potential reduction in volatility.
As of August 13, Bitcoin has risen by over 7% in the past week, peaking at $61,600, indicating cautious optimism among investors.
Clever Robot News Desk 15th August 2024
