Bitcoin Holders Stay Put Despite Price Highs, Anticipating More Gains

Dollar value of mean Bitcoin on-chain transfers remains well below 2021 peak levels per Glassnode data, indicating investors are holding coins rather than spending
Analysts at Blockware Solutions believe low on-chain volume shows "nobody wants to sell" as investors anticipate further price increases
Bitcoin's price has hit new highs over $70K, but real economic activity on blockchain is lagging, not matching price level
Metrics like percentage of supply last active 3-5 years ago continues rising, signaling holders from last bull market are retaining coins
Blockware analysts expect on-chain volume to surge once bitcoin price starts moving more, as older coins get sent to exchanges to sell