On-chain analytics provider Glassnode reported that long-term Bitcoin (BTC) holders are refusing to sell despite the BTC markets rallying to a five-month price high.
In its Monday “Week On-chain” report, Glassnode noted that “long-term holders” — BTC wallets that have not seen outflows for more than 155 days — are currently sitting on nearly 13.3 million BTC or 70% of Bitcoin’s supply.