Bitcoin Hodlers Wallet Balances Continue to Rising as BTC Price Drops 50%: IntoTheBlock


Yuri Molchan

According to a recent report, long-term investors are again collecting Bitcoin as its price drops 50% against ATH

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Long-term holders buy on the dipWhales have added 60,000 BTC in the past two months

On-chain data provider IntoTheBlock shared a tweet with a chart showing that Bitcoin hodlers have now been actively adding to their BTC supply and the price is down about 50% from its all-time high of nearly $ 69,000.

Long-term holders buy on the dip

The tweet says that during previous bear markets and rallies, hodlers have followed a similar pattern – gathered on the dip and sold as Bitcoin price hit new highs. The chart confirms this and shows a curve of Bitcoin hodlers’ balances going up and down.

According to the chart, their cumulative balance in late November, ahead of the all-time high of $69,800, reached nearly 12.5 million BTC. After that, hodlers started selling and bringing them back to about 10 million Bitcoins.

With the price holding in the $36,500 range, the curve is moving back up.

Whales have added 60,000 BTC in the past two months

According to data provided earlier today by another analytics firm, Santiment, cryptocurrency whales (with wallets containing 100+ BTC) had accumulated 60,000 Bitcoins in the past two months.

This large amount of the leading cryptocurrency is worth just over $2,200,026,000 at the time of writing.

The Santiment team adds that in the past five years — that is, since 2017 — these whales have amassed a massive 1.7 million BTC, which equates to a staggering $62,334.07 million.

Wallets holding between 100 and 1,000 BTC now hold a cumulative of 3,956,271 BTC, which is nearly 21% percent of all Bitcoins in circulation, according to BitInfoCharts’ BTC-rich list.



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