Bitcoin investors have made record savings. In just one month, 800 thousand BTC were purchased by long-term investors.
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Introduction
Bitcoin continues to be accumulated and purchased by long-term investors. Bitcoin long-term investor supply has increased by a record 800,000 BTC in the last 30 days. Data shows that this increase in BTC accumulation has only occurred six times in Bitcoin history.
Research
According to research by on-chain analysis platform CryptoQuant, Bitcoin shows that the “HODL” (Buy and Hold) mentality is increasing and reaching levels rarely seen. Bitcoin investors are making history by increasing their BTC holdings by 800 thousand BTC per month.
CryptoQuant, which conducted the research, stated that there was a net increase of 800 thousand BTC in the volatile 30-day period, which is a new record. According to the information shared, Bitcoin purchases have exceeded the 750 thousand BTC level only six times in a month since 2010.
Bitcoin seems to be making a correction. However, a break below $98 thousand could trigger a deeper correction. There may be deeper and more volatile movements, especially in this region. In addition, we did not miss the fact that there is a bull flag (Descending Flag) formation in our daily technical analysis of the Bitcoin chart.
In light of such data, the first thing that comes to mind is that there may be a jump in the BTC price. However, do not forget that the cryptocurrency market is quite volatile.
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