More Than 75% of Bitcoin Is Held by Long-Term Investors

  • Notably, crypto assets are moving from less experienced, to long-term holders.
  • The top 10,000 individual Bitcoin investors own one-third of all bitcoin in circulation.
  • Exchange deposits have now fallen to levels last seen 2.5 years ago.

Long-term holders are seasoned market players who have witnessed many market stages. Over 75% of the total amount of Bitcoin in existence is held by long-term investors, according to Cryptoquant. The market hasn’t seen these percentages since October 2015.

Coins are moving from younger, less experienced market players to long-term holders as Bitcoin enters the bear market period.

One of Bitcoin’s basic characteristics hasn’t altered despite its rising popularity. Only a few people still own a majority of its ownership. Approximately one-third of the bitcoin in use is held by the top 10,000 individual Bitcoin investors, according to a National Bureau of Economic Research research.

Since Bitcoin’s inception, admirers of the cryptocurrency have wondered who the top Bitcoin holders are. However,  many of the biggest addresses frequently reflect exchanges and other organizations that hold Bitcoin on behalf of other investors rather than a specific individual. It can be particularly challenging to identify ownership concentration.

Notably, a sell-off has been occurring in a market that is generally healthy and has avoided making any substantial swings up or down this year, being range-bound. This is preventing a capitulation event, which frequently occurs at the end of a bear cycle.

The brittle $19,000 support has held the price of bitcoin steady for months, but trade volume appears to be increasing. This is unexpected given that the cryptocurrency market’s low volatility discourages substantial bets from investors.

On-chain data is still there in the background of this monotony. It implies that the rate at which BTC tokens are disappearing from exchanges is at an all-time high. 

Due to the possibility of major participants purchasing each drop, exchange deposits have now fallen to levels last seen 2.5 years ago. If this pattern continues, it may cause a shock in the supply of Bitcoin, which might serve as the impetus for a positive turn in the cryptocurrency market.

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Godfrey Mwirigi is an enthusiastic crypto writer with an interest in Bitcoin, blockchain, and technical analysis. With a focus on daily market analysis, his research helps traders and investors alike. His particular interest in digital wallets and blockchain aids his audience in their day-to-day endeavors.

programmer & freelance writer