Bitfinex Analyst: Bitcoin supply has dropped to lowest level in 18 months for long-term investors
Golden Finance reported that Bitfinex analysts said that the supply of Bitcoin on the exchange for long-term investors has dropped to the lowest level in 18 months. Combined with supply constraints from the upcoming halving, this dynamic could lead to further price increases, the analysts added. Bitcoin holders are currently behaving exactly as they did before the Bitcoin market surged in December 2020. “This pattern suggests we may be entering a similar phase of growth,” the analyst added. In July 2021, Bitcoin trading reserves hovered near the 2.8 million mark, but have now fallen to around 1.94 million, suggesting that Bitcoin has declined by approximately 862,000 since CryptoQuant began recording this metric.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Anthropic IPO Wealth Bonanza Sparks Battle: Goldman Sachs, Bank of America, and Others Compete for Employee Wealth Management Business
Anthropic's valuation has soared dramatically in a very short period, and some employees who have held equity for just two years may be facing wealth realization on a scale far beyond expectations. Wealth management professionals remarked, “It’s like winning the lottery.” Currently, Goldman Sachs, Bank of America, BNY Mellon, JPMorgan, and Wells Fargo have all reached out to Anthropic, aiming to establish long-term wealth management relationships with these newly wealthy tech elites at an early stage.
abrdn Total Dynamic Dividend Fund declares $ 0.11 per-share distribution for Sept. 30
Aberdeen Government Markets Income Fund declares USD 0.02 per share distribution for Sept. 30
Box CEO Aaron Levie disposes of USD 513,660 in common shares
Crypto prices
More
