Bitcoin Long-Term Holders Stay Strong Despite $20K Drop From Last Month’s High

Posted on by American Coins & Gold

Bitcoin Long-Term Holders Stay Strong Despite K Drop From Last Month’s High
Long-term holders marginally trimmed their bitcoin positions in recent weeks despite a sharp price drop, data from analytics firm Glassnode show.The leading cryptocurrency by market capitalization failed to break the $52,000 level on Monday and slipped to $49,300 in European hours on Tuesday.Bitcoin prices have fallen almost $20,000 since November 2021′s highs of over $69,000. However, analytics show the supply held by investors has only dropped to 13.3 million BTC from 13.4 million BTC – a marginal change considering the massive price drop.The absorption of bitcoin from sellers could be bullish.“Such on-chain behavior is more typically observed during bitcoin bear…