Bitcoin Price Rises as Long-Term Holders Tighten Grip on Supply
-
Bitcoin long-term holders (LTHs) control a record 76%+ of the BTC supply, topping a previous high set in 2015.
-
With less liquid supply, the same buyers are bidding on fewer coins, increasing upward price pressure.
-
Long-term holders have dramatically increased their BTC exposure since mid-2021, "hodling" through the bear market.
-
Short-term holders' (STHs) realized BTC price near $27k functions as key support, with prices breaking above it this week.
-
In August, STHs had historically low BTC exposure, reducing selling pressure.