Bitcoin bear market over, metric hints as BTC exchange balances hit 4-year low

Bitcoin bear market over, metric hints as BTC exchange balances hit 4-year low


Bitcoin (BTC) may already be beginning its new macro uptrend if historical “hodl” habits repeat.

That was the conclusion from research into the latest data covering the amount of the BTC supply dormant for one year or more as of July 2022.

Hodled BTC hints that the bear market is over

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According to independent analyst Miles Johal, who uploaded the findings to social media on July 29, a “rounded top” formation in “hodled” BTC is in the process of completing.

Once it does, the price should react — just like on multiple occasions before.

The clue lies in Bitcoin’s HODL Waves metric, which breaks down the supply according to when each Bitcoin last moved. One year ago or more — the one-year HODL Wave — currently reflects the majority

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