Bitcoin lost over 60% of its value over the past year due to the crashing crypto market. However, new statistics highlight that Bitcoin hodlers held 65% of bitcoin for at least one year, marking an all-time high.
Bitcoin hodlers still held on
65% of the bitcoin in supply was held by Bitcoin hodlers for at least one year, as Tom Dunleavy, Sr. Research Analyst at Messari mentioned on Twitter.
% of BTC supply held for at least 1 year. Coinmetrics.
This number is a new all-time high, whereby about 12.35 million BTC hasn’t moved in at least one year. Investors have held their coins both through the bull markets and crypto winters.
Glassnode data shows that 8.55 million BTC, 45% of the circulating supply, has not moved in the last two years. On the other hand, 7.22 million BTC has not changed hands in three years, 38% of the supply. Over the past five years, the amount registered comes to 23% of the supply, about 4.37 million BTC.
Supply last active. Glassnode
The move shows that investors are holding their coin through the thick and thin of the crypto market. Notably, the BTC ATH rally in November did not decrease the BTC held that year. In addition, the bear market in 2022 did not reduce this number.
BTC remains supported
Bitcoin started to fall from its resistance zone at $21,500 and declined below the $21,000 support zone. Despite this, bulls were active at the $20,500 and $20,400 support levels. The price is now rising above the resistance zone at $20,850. On the upside, BTC price moved above the 50% Fib retracement level of the recent decline.
Currently, it is trading at $20,960.10, a 0.7% gain over the past 24 hours. The immediate resistance level is around $21,160. Meanwhile, the 61.8% Fib level of the previous decline from the high of $21,639 is also near. The next major resistance zone is close to the $21,500 zone, which could trigger a bullish move.
However, if BTC fails to clear the $21,250 resistance, a new decline could be seen. The next support level is near the $21,050 zone and the trend line.