Has Bitcoin's long-term holding hit an 8-month low? Is the market turning?Author: Nancy Lubale Source: Cointelegraph Translation: Shanoopa, Jinse Finance
Long-term Bitcoin holders continue to reduce their holdings, with the amount dropping to the lowest level since April.
Key Points
1. The proportion of long-term Bitcoin holders' holdings has fallen to 72%, the lowest since April
2. If critical support levels are broken, Bitcoin price could sharply retrace to $68,500
Long-term Bitcoin holdings decline to April levels
According to Glassnode data, the holdings of long-term holders (entities holding for at least 155 days) decreased from 14.8 million coins in mid-July to 14.3 million coins in December.
As shown in the chart below, the proportion of holdings by these investors has fallen to 71.92%, a figure that matches 4
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