While the Bitcoin has been witnessing an upward rally, the investors’ hopes have been crossing the roof. Notably, the asset has been standing up to the hopes and expectations of the investors yielding profits on majority of the holdings.
According to recent data from Glassnode, an on-chain analytics firn, amid the increasing price action, Bitcoin long-term holders are continuing to accumulate the asset while other cohorts are enjoying realised profits. Data suggests that Bitcoin long-term holder supply remains at an all-time high of 14.5 million Bitcoin.
Notably, this reflects that the matured investors who have been holding the asset for a long time are positive and intend to accumulate in recent times. The long-term holders are choosing to accumulate Bitcoin instead of distributing.
Simultaneously, it is important to note that the exchange outflows recently have taken a backseat. The exchange outflows which is generally a bullish sign for the asset and has been on a remarkable surge has held grounds recently.
In another set of data from Glassnode, Bitcoin outflow volumes have recorded their monthly low values. Notably, the monthly lowest value on a seven day moving average was recorded at 1,484.069 Bitcoin.
However, while the figures have slowed down on a monthly average, they are still high overall. While the highest figures for the metric was recorded around the start of July, the current rate at subtle space.
Additionally, despite the slowdown of outflows, the balance on exchanges have hit 5-year low values highlighting the persisting interest of investors. Simultaneously, the increasing accumulation via investors can also be assessed by the increasing count of wallets with 1+ or 0.1+ coins.
While long-term holders continue accumulation, short-term holders are enjoying high realized profits amid the increasing prices. As of writing, Bitcoin is trading at $30,052.00, about a 0.63% surge over the past day and a 11.98% increase over the past month.