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Bitcoin On-Chain Analytics Show Long Term Holders At Multiyear Highs

GlobalBlock Marcus Sotiriou United Kingdom United States

By Marcus Sotiriou, Analyst at the UK based digital asset broker GlobalBlock

Whilst Bitcoin (CRYPTO: BTC) remains in this downtrend, on-chain analytics show that these prices could be lucrative for the long-term investor. Firstly, Bitcoin has reached the 4^th most oversold point in its history when looking at dormancy flow, shown by data from Glassnode. High values for dormancy flow mean that old coins are moving. Extremely low values, like we are seeing currently, show that most of the coins being transacted are young, suggesting that short term holders are capitulating whilst long term holders are holding / accumulating. Historically, values between 150,000 to 250,000 have marked the sign of bottoms before incredible rallies – currently, the dormancy flow is around 200,000.

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