Latest Trends in the Bitcoin Market: Glassnode Analysis

by Giorgi Kostiuk

2 years ago

Slowdown in Bitcoin Money Flow
Changes Among Short-Term Holders
Increase in Bitcoin Millionaires

According to the latest data from the analytical agency Glassnode, the Bitcoin market is experiencing a slowdown in money influx, as well as an increase in the number of long-term holders.

Slowdown in Bitcoin Money Flow

Glassnode reports that over the past few months, the influx of money into Bitcoin has slowed. This phenomenon is rare and may lead to significant price fluctuations.

Changes Among Short-Term Holders

Short-term Bitcoin holders are experiencing the most losses, but they are now holding the asset for more than 155 days, becoming long-term holders. However, most of these long-term holders are holding BTC at a loss.

Increase in Bitcoin Millionaires

According to New World Wealth and Henley & Partners, the number of Bitcoin millionaires has increased to 85,400, a 111% increase over the year. This significant increase is supported by the approval of spot ETFs in the US.

Glassnode research indicates stabilization in the Bitcoin market and an increase in the number of long-term holders, which could lead to significant changes in the near future.

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