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Bitcoin hodling rate reaches 9-month high, boosting hopes of 'bull flag' rally to $70K
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A yearlong price rally in the Bitcoin (BTC) market and hopes for more upside moves in the future has prompted traders to hold the token instead of trading it for other assets, Glassnode data shows.
The blockchain data analytics service revealed Thursday that the total amount of "hodled or lost coins" reached a nine-month high of over 7.21 million BTC. In simple terms, the Bitcoin metric reflected an increase in out-of-circulation tokens — those that may have been stored in cold wallets by long-term holders or got lost due to human errors, with a minimum chance of recovery.
In simple terms, the Bitcoin metric reflected an increase in out-of-circulation tokens — those that may have been stored in cold wallets by long-term holders or whose
Read more on cointelegraph.comAbout this in other media
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