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Three-quarters of circulating BTC last changed hands for less than $10,800

Published 03/29/2021, 11:46 PM
Updated 03/30/2021, 01:20 AM
Three-quarters of circulating BTC last changed hands for less than $10,800
BTC/USD
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Research from on-chain analytics provider Glassnode has found that roughly three-quarters of circulating Bitcoin last moved on the blockchain when prices were below $10,800, suggesting most market participants are long-term holders.

Glassnode’s March 29 ‘Week on Chain report found that 25.43% of circulating BTC last traded between the prices of $10,800 and $58,800. With Bitcoin trading for $10,800 just six months ago, the data suggests one-in-four circulating BTC last changed hands during either Q2 2020 or Q1 2021.

Entity Adjusted CDD: Glassnode
Hodlwaves: Unchained Capital

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