Long-term holders have been gradually accumulating Bitcoin (BTC) for nearly two years, according to the crypto analytics firm Glassnode.
Glassnode notes in a new tweet that long-term holders have amassed 1.01 million BTC over the past 602 days, bringing that cohort’s total supply to 14.47 million Bitcoin, just 20,000 BTC short of the all-time high.
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The analytics firm also notes that “shrimp” holders, meaning addresses with less than 1 BTC, have been “aggressively” accumulating Bitcoin at a rate of 33,400 BTC a month.
Glassnode says there have been only 130 out of 5263 total trading days, roughly 2.5%, that have recorded a larger monthly position change. The shrimp cohort now holds 1.33 million BTC.
Bitcoin is trading at $31,017 at time of writing. The top-ranked crypto asset by market cap is up 1.3% in the past 24 hours, around 0.7% in the past week, nearly 14% in the past month, and roughly 87% since the start of 2023.
Despite the massive gains this year, Bitcoin remains around 55% down from its all-time high of more than $69,000, which it hit in November 2021.
The crypto analytics firm IntoTheBlock notes about 75% of BTC holders are making money at Bitcoin’s current price. The firm also says 69% of BTC holders have held onto their Bitcoin for more than one year.
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