Bitfinex analyst: Bitcoin supply for long-term investors has fallen to its lowest level in 18 months
Bitfinex analysts stated that the Bitcoin supply held by long-term investors on the exchange has dropped to the lowest level in 18 months. The analysts added that coupled with the upcoming supply restriction from the halving, this dynamic could lead to further price increases. The behavior of Bitcoin holders currently mirrors the situation before the significant rise in the Bitcoin market in December 2020. The analysts added, "This pattern suggests that we may be entering a similar growth phase." In July 2021, Bitcoin trading reserves hovered around 2.8 million, but now it has dropped to around 1.94 million, indicating a decrease of approximately 862,000 since CryptoQuant began recording this indicator.
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