Historically, the retention of Bitcoin for a period exceeding one year by specific addresses has served as an indicator for the progression of the Bitcoin cycle.
As reported by IntoTheBlock, addresses possessing over 1,000 BTC achieved a fresh annual peak in their balance during the current week.
Since 2023, there has been a consistent growth in entities of this magnitude, and their holdings have surged to 7.67 million BTC, valued at $275 billion this week.
IntoTheBlock suggests that the substantial size of these holdings reflects heightened demand for Bitcoin among large institutional players, positioning them strongly in the market. Moreover, long-term investors have set new all-time highs in their Bitcoin holdings this week.
Historically, addresses retaining Bitcoin for over a year have served as a reliable indicator for the progression of the Bitcoin cycle. This trend is attributed to hodlers, who typically increase their Bitcoin holdings during bear markets and the onset of bull markets, while reducing them near previous all-time highs.
According to IntoTheBlock, the increasing balance held by hodlers suggests a prevailing expectation among investors that Bitcoin is poised for an upward trend.
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