Long-Term Bitcoin Holders Start Accumulating BTC First Time Since It Was $12,000: Glassnode
Glassnode agency chart shows that long-term holding whales and miners have begun to accumulate Bitcoin instead of selling it first time since mid-fall last year
A Twitter user going under the name “Documenting Bitcoin” has shared a Glassnode chart that shows that holder addresses on which Bitcoin is stored long-term have begun accumulating more Bitcoin for the first time since October-November 2020, when BTC was worth around $11,500 and close to $12,000.
As per the chart, from November to now, miners and other long-term holders have been dumping Bitcoin as it grew from $13,000 and first recovered to the $20,000 peak of 2017, and again when it went higher toward $40,000 and $50,000.
As reported by U.Today earlier, Bitcoin miners started to accumulate BTC instead of selling some time ago. This chart shows that they continue to do so: the long-term holder net position change indicator keeps going green.
On Wednesday, April 14, spurred by the future Coinbase direct listing on the Nasdaq, Bitcoin set a new all-time high record in the $64,500 area.