Bitcoin Dormant Supply Metric Mirrors 2016 Run-Up to $20K BTC Price
61% of the Bitcoin supply has stayed in the same place for a year or more — the only time that happened was before its all-time highs. Bitcoin (BTC) hodlers are preparing for a bull run just like the one that led to $20,000 all-time highs in 2017, one metric suggests. According to on-chain monitoring resource Glassnode on June 28, the proportion of the Bitcoin supply that has not left its wallet in a year or longer reflects 2016. Dormant BTC channels 2016 Despite a hectic year for Bitcoin price action, the data shows that over 61% of the supply remained dormant through highs and lows. This is a record, US exchange Kraken business development director Dan Held added. Glassnode noted that early 2016 likewise recorded similar behavior among hodlers.
Coin Telegraph - 29th Jun 15:06