Bitcoin Holders Return To Accumulation, Why This Is Bullish

Quick Summary:

The latest insights from Glassnode’s “Week Onchain” newsletter reveals a major shift in Bitcoin market dynamics as long-term holders (LTHs) and large investors appear to be resuming a pattern of accumulation.

Particularly noteworthy is the behavior of large wallets, often associated with institutional investors and exchange-traded funds (ETFs), which are now shifting towards accumulation.

The ongoing accumulation by LTHs, despite the choppy sideways price action, indicates a resilient and patient holder base.

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Article Details

Author / Journalist: Jake Simmons

Category: Crypto

Markets: HungaryEl Salvador

Topics: Btc Bitcoin news Bitcoin On-Chain Data BTC news Bitcoin News Bitcoin Btc price Bitcoin price

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-13 @ 23:30:00 (13 hours ago)

News Timezone: GMT +8:00

News Source URL: bitcoinist.com

Language: English

Article Length: 581 words

Reading Time: 4 minutes read

Sentences: 36 lines

Sentence Length: 17 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Bitcoinist

News ID: 22070256

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About Bitcoinist

Main Topics: Crypto

Official Website: bitcoinist.com

Update Frequency: 21 posts per day

Year Established: 2014

Headquarters: Hungary

News Last Updated: 10 hours ago

Coverage Areas: Hungary

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Publication Timezone: GMT +8:00

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News Language: English

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Publisher ID: #105

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