Bitcoin's long-term holders have bought a total of $10 billion tokens, as the cohort hits 262,000 BTC over the past 30 days
Bitcoin large holders supply hit 262,000 BTC over the past 30 days.], the largest cryptocurrency by market cap, has recently experienced a sharp decline in its prices. At press time, the king coin was trading at $58679. This marked a 6.69% decline over the past 24 hours.
This sudden decline raises questions about panic selling and the role of long-term holders in ensuring Bitcoin’s stability.According to CryptoQuant analyst Amr Taha, long-term holders are less likely to sell and to purchase and hold during market downturns.posited that long-term holders have spent $10 billion to purchase the crypto. Also, these buyers have avoided selling as the market was currently in a downturn.
This phenomenon means large holders have long accumulation phases. As data from IntoTheblock shows, large holders take at least five months to three years to sell their assets, while small holders tend to sell their holdings.While long-term holders are less likely to sell, their supply has experienced exponential growth. As shared byThrough their X page, they shared the analysis, noting that,
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