Bigger Bitcoin Supply Being ‘Hodled’
“This is even more impressive considering a year ago was when BTC initially dropped down to $20K following the Luna collapse,” he added.
There are also more than 1 million “wholecoiner” addresses holding more than 1 BTC, he noted.
On June 25, on-chain analyst “@therationalroot” reported that the supply available to trade has declined since the third halving in May 2020.
This may be due to accumulation, long-term holding, or institutions buying and locking away the asset. Either way, it should positively affect price action since there are fewer Bitcoins to buy and sell.
