The Daily Hodl
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
The Daily Hodl
No Result
View All Result

Long-Term Bitcoin Holders Gobble Up $13,400,000,000 Worth of BTC in Q1 2023: Analytics Firm IntoTheBlock

by Mehron Rokhy
April 3, 2023
in Bitcoin, Ethereum, Trading

New data from crypto analytics platform IntoTheBlock reveals that long-term Bitcoin (BTC) holders snapped up billions of dollars worth of the king crypto in Q1 2023.

In a new report, IntoTheBlock says that long-term investors of Bitcoin and Ethereum (ETH) have significantly increased their exposure to the digital assets in Q1 of 2023, which historically could mean that these entities won’t likely sell until BTC and ETH closes in on their all-time highs.

“The amount of Bitcoin and Ether owned by hodlers continues to hit all-time highs.

Addresses holding assets for over a year have increased their holdings by $13.4 billion and $4.7 billion of Bitcoin and Ether respectively so far in 2023. If history from previous bull markets repeats, these addresses are unlikely to sell until we approach previous all-time highs.”

According to the market intelligence firm, Q2 2023 could harbor potential catalysts for the leading two digital assets, such as ETH’s upcoming Shanghai upgrade and BTC’s next halving cycle, which is viewed as a force behind crypto cycles.

IntoTheBlock says that ETH’s upgrade could cause short-term sell pressure due to the addition of staking withdrawals, but long-term, it could be seen as bullish because it encourages more users to stake.

The firm also says that investors should keep an eye on key prices levels for Bitcoin and Ethereum. According to IntoTheBlock, investors accumulated around $17 billion worth of BTC at $27,000 and $15.1 billion in ETH at about $1,700.

“$27,000 and $1,700 for Bitcoin and Ether, respectively, are the levels to watch near-term as they have the largest concentration of buyers, with 623,800 BTC (~$17 billion) and 8.4 million ETH (~$15.1 billion) being acquired at this level.

If prices were to breach this level, there is not much support based on previous buying patterns until $24,500 and $1,500 for Bitcoin and Ether.

On the selling side, recent highs of $29,000 and $1,850 have pressure from addresses that previously bought around that area, but there is not much further resistance if prices climb beyond those levels.”

Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Check Price Action

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

Check Latest News Headlines


 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney

Submit a Press Release

Industry Announcements

  • DPAT Raises Private Funding To Enhance Web 3.0 Ecosystem
    June 2, 2023
  • Pink Moon Studios Reveals ‘KMON: World of Kogaea’ Pioneering a New Era in Web 3.0 Open-World Gaming
    June 2, 2023
  • OKX Proposes Industry-First BRC-30 Token Standard To Enable Bitcoin and BRC-20 Token Staking
    June 2, 2023
  • Devour and AlterVerse Partner To Bring the World’s First Web 3.0 Food Ordering Marketplace to the Metaverse
    June 1, 2023
  • Bumper’s Breakthrough DeFi Protocol Set To Reshape Options Pricing
    May 31, 2023
  • MetaZone Secures Funding To Expand the World’s First Tokenized App Platform for the Metaverse
    May 30, 2023
  • The QWAN Launch – A Token for the Global Gaming Industry
    May 30, 2023
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$27,220.29
$27,220.29
1.81%
Ethereum
$1,908.16
$1,908.16
2.43%
Cardano
$0.377672
$0.377672
3.46%
XRP
$0.52321
$0.52321
2.61%
Dogecoin
$0.072562
$0.072562
1.43%

Spotlight

  • Mysterious Bitcoin Whale Abruptly Moves Over $525,000,000 in BTC – Here’s Where the Crypto’s Headed
    May 26, 2023
  • Under-the-Radar Ethereum-Based Altcoin Flashing Bullish Signal, Says Crypto Analytics Firm Santiment
    May 26, 2023
  • Traders Are Flocking to ‘Blue Chip’ Bitcoin and Fleeing Altcoins, Says Analyst Benjamin Cowen – Here’s Why
    May 26, 2023
  • Shiba Inu’s Shibarium Mainnet Launch Nears As Testnet Transactions Surge to Over 12,000,000 – Here’s the Timeline
    May 26, 2023
Coinfest Asia Banner
DON'T MISS A BEAT
Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options
By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.
Featured Image: Shutterstock/Billion Photos

Cryptocurrency news and analysis, covering Bitcoin, Ethereum, Ripple, XRP, altcoins and blockchain technology

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX •
Futuremash •
Industry Announcements

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT | ADVERTISE

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2023 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX

© 2023 The Daily Hodl