Bitcoin has recently experienced a period of consolidation, demonstrating less volatility than usual, with its price hovering between $64,000 and $69,000. This stability indicates a potential stagnation phase instead of the typical rapid price fluctuations associated with Bitcoin.

Market experts are closely watching Bitcoin's movements, particularly as it approaches the key resistance level of $70,000. There is anticipation that a breakout above this level could lead to increased volatility and reshape the current market outlook. Insights suggest that the cryptocurrency may be on the verge of an important breakthrough.

A recent report from Glassnode highlights changes in Bitcoin's supply dynamics based on on-chain data. This report indicates a resurgence in dormant Bitcoin supply after a period of scarcity. The gap between Long-Term Holder (LTH) supply and Short-Term Holder (STH) supply has narrowed, indicating a trend commonly observed as prices increase, where long-term holders seek to capitalize on unrealized gains.

From December 2023, there has been a substantial decrease in Long-Term Holder (LTH) supply, while Short-Term Holder (STH) supply has increased significantly. This shift from long-term holding to more speculative behavior signifies a changing landscape in the Bitcoin ecosystem as holders navigate market conditions.

It is essential to note that the information provided in this article is for informational purposes only and should not be construed as professional advice in any form.