On-chain data shows the part of the Bitcoin realized cap held by the long-term holders has increased and is now at nearly 80%.
Bitcoin Long-Term Holders Own Almost 80% Of Realized Cap
As explained by an analyst in a CryptoQuant post, the crypto has historically tended to form bottoms around when the long-term holder share of realized cap has exceeded 80%.
The “long-term holders” (LTHs) are all those Bitcoin investors who have been holding onto their coins without selling or moving since at least 155 days ago.
The realized cap is a way of assessing the capitalization of the crypto where each circulating coin’s value is taken as the price it was last moved or sold at, rather than the current BTC price.