Hodler Reserves Hit 14.9M Bitcoins: Report
In the middle of October, Bitfinex announced that around 15 million Bitcoins were being held by long-term investors, known as hodlers.
These investors have held onto their cryptocurrency for more than 155 days and collectively control over 80% of the total BTC market turnover.
Similarly, Glassnode estimates that hodlers possess almost 14.9 million Bitcoins in their wallets.
However, 29.6% of these long-term investors are currently experiencing losses, having purchased around 4.28 million BTC at higher prices than the current market value.
Despite this, hodlers continue to hold onto their record amount of cryptocurrency, refusing to sell even as BTC reaches its highest values since May 2022.
According to Santiment, some altcoins such as Chainlink, Solana, and Polygon were showing bullish trends before BTC’s recent surge.
However, in mid-October, traders started reallocating their capital towards Bitcoin, leading to a significant increase in open interest in BTC futures, which reached $15.2 billion this week.
