Q1 2023: Long-Term Bitcoin Holders Invest Over $13B in BTC, Says Analytics Firm
Crypto analytics platform IntoTheBlock has revealed that long-term holders of Bitcoin (BTC) have invested billions of dollars worth of the king crypto in Q1 2023. According to the platform’s report, Bitcoin and Ethereum (ETH) hodlers have significantly increased their exposure to the digital assets in Q1 of 2023, indicating that these entities won’t likely sell until BTC and ETH reaches their all-time highs. The amount of Bitcoin and Ether owned by hodlers continues to hit all-time highs. The market intelligence firm predicts that Q2 2023 could harbor potential catalysts for the leading two digital assets, such as ETH’s upcoming Shanghai upgrade and BTC’s next halving cycle, which is viewed as a force behind crypto cycles. Investors should keep an eye on key price levels for Bitcoin and Ethereum.