Glassnode Analysts Say There Are No Signs of Panic in Whales Amid Bitcoin Crash
The about 20% correction in the price of the leading crypto has not pushed long-term investors to massive sales – over the last month they have gotten rid of just 0.7% (100 thousand BTC) of their 13.5 million BTC, according to Glassnode analysts.
81.7% of the total market supply comes from hodlers, while the remaining 18.3% from short-term holders (purchases of coins with a maturity of less than 155 days). Of this number, the “unprofitable” number of Bitcoins from the total emission is 3% for the former and 8.3% for the latter.
Bitcoin investors acquired 17% of the market supply in the range from $56,000 to $69,000.
The founder of SkyBridge Capital, Anthony Scaramucci, has recently predicted Bitcoin will hit the $500,000 mark. He referred to the limited emission of the cryptocurrency and a significant number of wealthy investors as the drivers of its growth.