Long-Term / 2 posts found
Long-Term Bitcoin Holders Now Own 13.62 Million BTC
Long-term Bitcoin (BTC) holders are not ready to sell their digital assets despite the latest crypto market correction. Glassnode’s data indicates that the long-term holders of the world’s most valuable digital currency now own approximately 13.62 million Bitcoin, which is the highest level on record. “Total supply held by Long-Term Holders has reached a new ATH of 13.62M BTC, LTH supply is the volume of Bitcoin which has been dormant for 155-days and is statistically the least likely to be spent during market volatility,” Glassnode noted. Bitcoin network has remained volatile during the last few days. Earlier this week, the […]
Long-Term Correlation Between Bitcoin and Wall Street Waned as BTC Has Better Returns (Report)
Prior to the pandemic, Bitcoin appealed to many as an inflationary hedge due to its low (near zero) correlation with traditional assets such as stocks. However, in recent times, the narrative has taken a 180° turn, owing to macroeconomics shifts. According to a report by 21Shares, Bitcoin and the S&P 500 moved in sync, with their correlation rising to an all-time high of 0.69. This bred uncertainty in the usefulness of crypto assets in portfolio diversification. Bitcoin Correlation to S&P 500 Lower in the Long-term While it does not dispute the coupling of crypto and traditional assets, 21Shares shows that […]