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Current Actions of Bitcoin Holders Mirror December 2020, Suggesting Possible Growth Phase: Bitfinex Analysts

Published 16/04/2024, 18:05
© Reuters.  Current Actions of Bitcoin Holders Mirror December 2020, Suggesting Possible Growth Phase: Bitfinex Analysts
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Benzinga - by The Block, Benzinga Contributor.

A significant decrease in the inactive supply of Bitcoin (CRYPTO: BTC) that has not moved in over a year is indicative of long-term holders either continuing to trim their holdings or moving their assets off exchange, according to this week's Bitfinex Alpha report. "Fundamental to bitcoin price dynamics is this week's halving, which as it approaches, has seen a notable surge in bitcoin leaving centralized exchanges, and a decrease in the inactive supply of bitcoin that has not moved in over a year, to an 18-month low" Bitfinex analysts said.

Read the full story at The Block.

Read the original article on Benzinga

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